Dreaming on ZillowPosted: September 8, 2020
One of the favorite activities Carter and I can do long distance is look at real estate on Zillow together. Since Carter is back in Boston she has been spending her free time riding a bike. She can go down different streets and decide which ones might be good places to live in the future.
Sometimes when I can’t sleep I scroll through listings on Zillow. Boston real estate has been crazy the last few years, but Covid has changed the landscape. I have never seen so many things for rent for so long. Obviously many young people have moved out of the city as their jobs went virtual. With so many young adults going back to their parents house to save money the inventory of rentals is going up and the prices are going down.
Last year renters had to pay a rental fee of one months rent to a broker. Today most listings have no fee. Many units that have been on the market a few months have dropped their prices by ten to twenty percent. The big rental start date in Boston is Sept. 1 and now that it has come and gone it will be interesting to see what happens to prices.
Boston can not be any different than other big metro areas like NYC and San Francisco. I am wondering what will happen to the sale prices and how long the slide down will go and when the bottom will hit?
This is definitely going to be something I keep my eye on if not just because it is fun to do with Carter, but eventually she will graduate and need to find a new place to live. I am hoping the timing will be right for her.
It reminds me so much of how she and I used to walk through Sears and look at new washers and dryers when she was five years old. One evening when Russ was away on a business trip and Carter and I had gone to the mall for dinner we walked back through the very empty Sears appliance department. A bored salesman asked us as we lingered in front of a pair of cherry red washers and dryers if he could help us. Carter looked at him and said, “No, we are just dreaming.”
Zillow is our new Sears.