I live in Malden, a suburb of Boston. Most of the Boston area suburbs are rather expensive and have decent neighborhoods. But I bought in Malden because people were migrating to Malden, Everett and Chelsea to afford housing when the boom hit. These fringe neighborhoods have transportation access and have been a landing spot for immigrants for the last 25 years or so. I have a condo in a triple decker. My neighbors in my building are honest, hardworking people. A small family downstairs and an older divorcee upstairs. However, our building abutts several multi family homes which were previously split into condos and were owned for a short time. Now they're being rented to some real jerks. Seems like the whole street I'm on went bust-boom-to-bust in 5 years. At the time I bought, I looked at single family homes in adjoining neighborhoods and they were $400K, way out of my price range. Now those same homes are selling for $250k. If I had known that waiting two years would have gotten me a single family house... Ah well.
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