No. of Recommendations: 0
Personally, I bought a condo in downtown Boston ...

There is a reason why "Location, location, location" is so critical. Boston is physically constrained wrt real estate development, making existing properties a high demand low supply investment. But Boston too has it's ups and downs. My brother bought a fixer-upper walk to T in Cambridge that required about a decade of rising property values before he would break even between initial and improvement investments. Another decade saw his property values triple when he sold for a tidy profit. In the recent housing crisis people lost sight of the need for seasoning of the property over time. It's not a good sign when there are multiple shows on TV about flipping a home, and every gathering you go to has people discussing the big money to be made in real estate.

Supply constraint/high demand is one criteria I look for in buying a property. If it is not there, I would rather rent.

IP
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