BOSTON—At least one study says buying is cheaper than renting in the city, though that could all change if the bubble bursts interest rates rise: "To afford a median-priced Boston home, a buyer with median income would have to pay 23 percent of their pay toward their mortgage payment, better than the historic average of 27.8. Renters were worse off, with a median income Boston renter required to put 33.5 of their pay toward rent to afford a median-priced apartment, far above the historic average of 25.4 percent." [B&T]
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DOWNTOWN BOSTON—Speaking of bubbles markets that only ever go upward and never, ever down! Why not invest in housing rather than stocks? "The average condo price in Boston has risen more than 71 percent since 2000. At the start of the 21st century, the average condo price in downtown Boston was $438,000. By the end of last year, it has hit nearly $752,000, notes Kevin Ahearn, head of top Boston condo marketing, research and brokerage firm, Otis & Ahearn." [Real Estate Now]
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