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EXPERTS AGREE – NO HOUSING BUBBLE IN MASSACHUSETTS

10-31-2005 08:28 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: ABSOLUTE AUCTIONEERS

On October 27th, 2005 Agneta Sakalyte, President and Chief Auctioneer of ABSOLUTE AUCTIONEERS attended a discussion entitled “Affording the American Dream” sponsored by WBZ NewsRadio 1030. The discussion was moderated by Anthony Silva (New England Business Editor and PM Drive News Anchor on WBZ NewsRadio 1030) and the panel of experts included Barry Bluestone (Director of the Center for Urban & Regional Policy at Northeastern University), Dan Green (The Principal and VP at The Green Company), and Aaron Gornstein (Executive Director at Citizens Housing & Planning Association).

The Housing Bubble (as many of us have come to know) is driven by simple economics of supply and demand. Many believe that current Real-Estate market will “burst” due to too much supply, however the experts agree that no such bubble exists and only a softening in Real-Estate prices will occur with an expected growth of 3-4% a year.

Current Massachusetts Zoning Laws, Building Permit Regulations, Increased Land and Material Cost Pressures to the developers, as well as Physical Location and History of Boston have all aided in preventing over development of Massachusetts. The panel did agree that Massachusetts is in short supply of affordable housing and the same factors are to blame. However, Massachusetts is on the right track with recent passing and adoption by some communities of Zoning Bill 40R and a hopeful passing of Smart Growth Locations Bill 40S which will assist our state in creation of more affordable housing while maintaining our population, attracting business and employers.

Agneta believes that the “Bubble” is a self created phenomenon. With increased number of homeowners who want to sell and buyers who are afraid to invest, along with transactions taking longer time to complete we are creating a slow price decrease. This decrease will not be dramatic and is necessary in sustaining our economy. Auction Method of Marketing works best in such unstable and changing Real-Estate Market. ABSOLUTE AUCTIONEERS, specializing in voluntary Real-Estate Auctions, helps buyers and sellers overcome the obstacles by allowing the buyer pay the lowest price that is acceptable to the seller while eliminating lengthy negotiations. ABSOLUTE AUCTIONEERS increases the buyers comfort by providing assessment and inspection reports along with disclosures on the property, while increasing the demand for the sellers Real-Estate. Not every property qualifies for such a unique and innovative method of marketing so if you would like to find out call 781-356-2580 or visit www.absoluteauctioneers.com.


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ABSOLUTE AUCTIONEERS
One Adams Place, Suite 400
Quincy, MA 02169
781-356-2580
www.absoluteauctioneers.com
Press Contact: Agneta Sakalyte

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