cost of renting

Tenants are increasingly rent burdened

Corporations who manage large portfolios of rental property want us to believe that supply and demand will keep the rental market affordable. Even in an affluent state, like Massachusetts, this is not true. Rents rise far faster than income. Renters choose between spending more than a third of their income or moving. “The reality is

By |2022-11-06T09:52:42-05:00November 9th, 2022|Categories: Money and finance|Tags: , , , , , |

Buy a Condo for a College Student?

Boston is a college town. In June and July, I get calls from parents who are thinking about buying a condo here, so that their college-aged child can save on rent. This is known as a “kiddie condo.” Sometimes, it makes sense. Most of the time, it does not. Condo Pros: If the mortgage is

By |2022-06-27T10:00:29-04:00June 29th, 2022|Categories: condo issues, House Hunting|Tags: , , , , , |

NPR, You Disappoint Me (and My Buyers) Again

It was only last August when WBUR published this story about home-buying. I critiqued it here. In short, the story encouraged buyers to do five things (in bold). A summary of my critiques is in italics after the “advice”: Prepare To Waive Contingencies. No, no. no, no, never. Check The Basement! Seller says you have

Buying or renting?

Here is something for everyone who is about to sign a lease and is thinking “should I be buying?” Unlike most Realtors® my answer is not, “Hell, yes! Right now! Hurry!” The economic decision: Owning: For most people, owning a house or condo involves paying down a mortgage, but never owning outright. In previous generations,