Utterly Meaningless » Blog Archive » ANOTHER BUBBLE

    Filed at 6:35 am under by dcobranchi

    Insane housing prices abound in Boston suburb Newton, MA.

    Of the 192 single-family homes listed this week, 76 — or 39.6 percent — exceeded $1 million, according to the MLS Property Information Network. Of those, 28 have asking prices from $2.3 million to $4.8 million.

    “Experts” suggest it’s because they have great g-schools there.

    “The cost of a quality education is a home in places like Newton,” said Warren. “Families are willing to pay anything to buy their way into the best public schools, and it’s driving up home prices dramatically.”

    Riiiight! In order to get a good education in the Boston area, you have to be able to afford a million dollar mortgage? I have a suggestion- buy a smaller home in the outer-ring suburbs, live on one income, and homeschool your kids. Then, they can live in Cambridge while attending Harvard (on academic scholarship, of course). These kinds of prices are not sustainable; the bubble will pop eventually.

    2 Responses to “ANOTHER BUBBLE”

    Comment by
    November 30th, 2003
    at 8:06 am

    Anybody who could afford a $2.3 million home could afford to send their kid to the best private school there is. I doubt seriously that good public schools is the primary reason for people buying those homes.

    Comment by
    July 13th, 2004
    at 8:50 pm

    I know this is rather off topic, but I’m desperate for info. I’m a support group leader for a relatively small group of homeschoolers in Memphis. I’ve been contacted by a lady in MA regarding finding some AA homeschoolers in or around Boston. I searched the internet – you were the closest I found. Can you help? Any info you can offer regarding other AA homeschoolers in MA would be much appreciated.