Perils of renting in Davis Sq/Somerville (Boston Globe)?

[nvidia99999.livejournal.com]

Hi, is this consistent with your own observations about the rental market around Davis Sq? Could any real estate person comment on this?

"With the vacillations and the range in prices, “I’ve never seen a rental market like this in all my 20 years of renting real estate,” said realtor Irene Bremis."

http://www.boston.com/yourtown/news/somerville/2009/09/the_summer_switchover.html

Comments

[thetathx1138.livejournal.com]

Kind of inevitable. There's just less money to go around in the first place.

I wonder how Bremis is doing with that enormous condo complex near Teele. They're asking $400k for a condo according to their signage, and I never see any lights on in there.

[vibrantabyss.livejournal.com]

Two of the units I've been able to see have lights some nights. But that still smells like less than 25% occupancy - consistent with how empty the parking area is when it has been open. And there are more partially vacant (and utterly empty, just finishing) things within a handful of blocks from there.

[thetathx1138.livejournal.com]

Somewhere in New Jersey there's a 32-story condo tower with literally ONE family living in it.

Holy smokes...

[nvidia99999.livejournal.com]

I suppose they should lower the rent...

[clevernonsense.livejournal.com]

big family

[cn-i-crash-here.livejournal.com]

Heh!

[jamiesquared.livejournal.com]

The sign said one unit left when I walked by a few weeks ago.