Boston Condos for sale
A Tale of Two Cities
One would need to be schizophrenic to understand today’s news. On one channel I heard 7 million people will lose their unemployment benefits this week. On another news channel, it had employers complaining how they can’t find workers, and we have over 10 million open job vacancies.
After college, there was a recession. I wasn’t able to get any of the jobs that I had hoped for.
I worked many jobs including as a government employee. Some of my work experiences were horrible and some were alright and I learned something from each.
There were a few times that I had bosses that were totally insane. There was a boss with a drug problem and one who was a narcissist.
When I worked in a family-owned business I competed with the boss’s children for the best jobs. I won’t even mention the toxic work environments and poisonous company “cultures” I endured on my way to greatness.
I have been self-employed fo 20 years when I started my own downtown Boston real estate company. I no longer have to worry about being let go. I meet a lot of interesting people and I have a lot of control over how I spend my time and who I spend it with.
Self-employment and working on a 100% commission basis isn’t for everyone but for me it has been a perfect fit. I don’t like doing the same thing each day and I need to be challenged and I actually like to work. I especially enjoy problem-solving.
So if you are one of those unfortunate individuals who lost their unemployment today. go out and get a Boston real estate license and give me a call.
Boston Condos for sale
Boston comdos for sale
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There’s a growing divide in the Boston real estate for sale market, with some Boston condo buyers fortunate enough to be able to buy newer and bigger luxury condos for sale, while others who have experienced job losses face losing their current homes.
The U.S. unemployment rate is at 8.4%
The U.S. unemployment rate is at 8.4% in August, and many Americans have been left struggling to pay their mortgages or monthly apartment rents. Lawrence Yun, the chief economist of the National Association of Realtors, says another 10 million jobs must be created to get the U.S. economy back to where it was before the coronavirus pandemic.
Apartment Rents in Doubt
Moreover, a survey by the Census Bureau recently revealed that 42% of apartment renters who earn less than $35,000 per year say they have only slight or no confidence in their ability to pay September’s rent.
“The level of economic suffering for families is heartbreaking if we don’t figure out how to help unemployed Americans pay rent,” Sam Gilman, co-founder of the COVID-19 Eviction Defense Project, told USA Today. “Eviction leads to horrible consequences for families. It can lead to homelessness, kids not going to school, and is linked to deaths of despair.”
40 million Americans are at risk of being evicted
Gilman estimated that up to 40 million Americans are at risk of being evicted at the end of the year if nothing is done. He said that eviction and foreclosure moratoriums that extend to the end of the year could well be postponing the inevitable.
“We are only delaying this huge build-up in rental debt and the precursor to eviction,” Gilman said. “Once rent comes due after the holidays, the circumstances for millions of Americans likely will not have changed.”
The most recent eviction moratorium came into effect on Friday and requires tenants to certify or testify under penalty of perjury that they’re doing everything that they can to pay. Some of the obstacles that preclude them from paying the rent include job losses or wage reductions, and medical expenses.
High-paying jobs are looking to take advantage of record-low mortgage rates
Those with high-paying jobs are looking to take advantage of record-low mortgage rates, and many are looking to luxury condos for sale during the pandemic.
Citing a recent survey, Bankrate said around 59% of homeowners in the U.S. have completed at least $500 worth of home upgrades this year, or are planning to do so before the end of the year.
Boston Real Estate and the Bottom Line
“There’s still a lot of interest in sellers getting top dollar for their homes and buyers getting more space. The work-from-home trend has legs even beyond the pandemic because many companies have found that workers can be productive from home and it saves them money on office space. That has big ripple effects for the housing market if work-from-home becomes more permanent,” Rossman said.
