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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: MulhollandDrive who wrote (193044)	3/24/2009 6:06:04 PM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 306849

Very good strategy on China's part. They ain't worried about any cap 'n trade BS, they're not alienating the Canadians over the oil sands. They're just buying all the oil and coal they can find, quietly, using rapidly depreciating clownbux. We should be doing the same, but we're too busy bickering about AIG bonuses and letting GS get away with murder.

To: MulhollandDrive who wrote (193044)	3/25/2009 11:42:34 AM
From: Pogeu Mahone	Respond to of 306849

Real estate rewind Boston’s condos, houses sink to ’01 prices By Thomas Grillo \| Wednesday, March 25, 2009 \| bostonherald.com \| Business & Markets Photo by Nancy Lane (file) Boston’s housing market has sunk to its worst level since 2001 as home and condominium sales plummeted by nearly 30 percent in February. “There are qualified buyers out there ready to go, but they believe properties are still overpriced,” said Gary Dwyer, broker-owner of Buyer Agents of Boston. Last month, single-family home sales dropped by 28 percent in the city while condo sales plummeted by 27 percent. As sales sank, prices fell to their lowest level since 2001. The median price of a single-family home fell to $242,834 last month in Boston, down from $302,500 a year ago, a 20 percent drop. Median condo sale prices fell by 27 percent to $280,000 in February, down from $339,000 a year ago, according to the Warren Group, publisher of Banker & Tradesman. The once-resilient luxury downtown Boston condominium market is also hurting. Sales are off by 43 percent in the Back Bay, Beacon Hill, South End and North End for the first two months of 2009 compared to a year ago, and prices are down nearly 9 percent, according to Warren Group data. Statewide figures are grim, too. They show single-family home sales dropped 14.6 percent last month while sales of condominiums took a 30 percent dive from a year earlier. Still, some brokers tried to stay upbeat yesterday. Cheryl Bliss Waxman, the listing agent for 45 Province St. in Boston’s Downtown Crossing, said she has non-refundable deposits on 30 percent of the 138-unit development that is expected to open in May. But that’s a far cry from sales at the Residences at Mandarin Oriental Boston on Boylston Street, the 14-story building that was sold out by the time it opened last year. Barbara Cusack, sales director for the Clarendon, a 103-unit high-rise nearly complete on Stuart Street, did not return a call seeking comment. So far this year, only two units are listed as under agreement on the MLS Property Information Network. Article URL: bostonherald.com