Tuesday, December 31, 2002
Falling housing costs: Well, it’s begun -- the fall of housing prices in Massachusetts. About time. Took long enough. Hopefully, this indicates the recession is starting to bottom out. Now look for some owners to refuse to sell as prices fall, but when other financially pressed sellers can’t wait any longer, that’s when you’ll see real changes. So what’s the average price of an existing single-family home here despite the 9 percent drop since July? Answer: $335,813. Unbelievable. ... On second thought, maybe we have a way to go before we scrape bottom.
