Pittsfield one of the top 10 housing markets in the country

A national magazine has identified the greater Pittsfield area as one of the country's top 10 housing markets for the next 10 years.

[WhereDoUWork]

This is great. Pittsfield is a "top housing market" ... and a low employment market. Crime remains the # 1 growth industry in Massachusetts - both on the street and in the state house, as evidenced by DiMasi's recent arraignment.

Oh boy.

[Bill]

Whoever came up with this is article is a moron. Where are the jobs to support this growth in price? Laughable.

[Singled out]

Pittsfield a top housing market in the nation
By Tony Dobrowolski, Berkshire Eagle Staff

These staff people are asked by City Hall to promote Pittsfield with a positive brand. It wouldn't surprise me if the Chamber of Commerce sends the Eagle rough drafts to publicize at the staffs discretion. Or the Eagles staff dream up positive scenarios to draw outsiders in and to give the rest of us a feeling of assurance stability and that all is well and we're moving forward. EVEN WHEN IT'S NOT.

It's called City Hall hype.

[Emerald]

The whole article is nothing but BS.
Yes, the housing market is up...prices have fallen and investors are picking up distressed and foreclosed houses...then renting them out.
First time buyers have to have excellent credit to even apply...and the way the credit card companies are arbitrarily lowering credit limits precludes many from qualifying.
My brother, a real estate broker tells this story.
He had a young couple under contract to buy a house. They had a couple of credit cards on which they owed approx 1/4 of the card's credit limit. They had a 10% down payment. Sounds perfect right? Wrong. By the time they were to close the credit card companies had
reduced their credit limit to what was owed on the cards...making the cards essentially maxed out..and ruining their credit rating. They were denied by the lender. In this case they were able to buy the house anyway as the owner was able to take back the mortgage, not a usual type of financing.
So, it is really a false statement that the housing market is improving...it is mostly people with money buying up foreclosures for investment purposes. Not the average man on the street.

[Singled out]

Emerald wrote:

The whole article is nothing but BS.
Yes, the housing market is up...prices have fallen and investors are picking up distressed and foreclosed houses...then renting them out.
First time buyers have to have excellent credit to even apply...and the way the credit card companies are arbitrarily lowering credit limits precludes many from qualifying.
My brother, a real estate broker tells this story.
He had a young couple under contract to buy a house. They had a couple of credit cards on which they owed approx 1/4 of the card's credit limit. They had a 10% down payment. Sounds perfect right? Wrong. By the time they were to close the credit card companies had
reduced their credit limit to what was owed on the cards...making the cards essentially maxed out..and ruining their credit rating. They were denied by the lender. In this case they were able to buy the house anyway as the owner was able to take back the mortgage, not a usual type of financing.
So, it is really a false statement that the housing market is improving...it is mostly people with money buying up foreclosures for investment purposes. Not the average man on the street.

good point

[HellerCarbonCapN TradeLLC]

What a load of hogwash!
"U.S. News ranked each area based on the projected annual increase of area home prices."
Projected?
Who would be dumb enough to buy a home in an area based on a 'projected' increase in future prices?
What if the projected numbers don't pan out?
And get this: According to Berkshire County Chamber of Commerce CEO and President Michael Supranowicz, "The Pittsfield area includes all of Berkshire County EXCEPT the upper northern and lower southern regions."

If Mr. Supranowicz had used that same calculus forty years ago to invest in Pittsfield real estate instead of South County real estate, he would presently be moaning the fact that his Pittsfield investment was way down in value in comparison to the skyrocketing value of South County real estate.

Using the US News formula, people interested in investing in Pittsfield property should be loading up on the area immediately surrounding Silver Lake for it can only go up in value -- in the future.

[Singled out]

HellerCarbonCapNTradeLLC wrote:

Using the US News formula, people interested in investing in Pittsfield property should be loading up on the area immediately surrounding Silver Lake for it can only go up in value -- in the future.

How do you figure that.
Sounds like another ROBERTO, HINES, HICKEY ,brainwash.

[Singled out]

HellerCarbonCapNTradeLLC wrote:

What a load of hogwash!
"U.S. News ranked each area based on the projected annual increase of area home prices."
Projected?
Who would be dumb enough to buy a home in an area based on a 'projected' increase in future prices?
What if the projected numbers don't pan out?
And get this: According to Berkshire County Chamber of Commerce CEO and President Michael Supranowicz, "The Pittsfield area includes all of Berkshire County EXCEPT the upper northern and lower southern regions."
If Mr. Supranowicz had used that same calculus forty years ago to invest in Pittsfield real estate instead of South County real estate, he would presently be moaning the fact that his Pittsfield investment was way down in value in comparison to the skyrocketing value of South County real estate.
Using the US News formula, people interested in investing in Pittsfield property should be loading up on the area immediately surrounding Silver Lake for it can only go up in value -- in the future.

Sorry Heller it was an intentional sarcasm I missed, then caught wind of it.

[susan]

no one in their right mind would consider purchasing a home in pittsfield (READY? EVERYONE SING) "OH THE LAND OF THE SKEEZE.....AND THE HOME ... OF THE ... DEPRAVED"

[Salharmonic]

HellerCarbonCapNTradeLLC wrote:

What a load of hogwash!
"U.S. News ranked each area based on the projected annual increase of area home prices."
Projected?
Who would be dumb enough to buy a home in an area based on a 'projected' increase in future prices?
What if the projected numbers don't pan out?
And get this: According to Berkshire County Chamber of Commerce CEO and President Michael Supranowicz, "The Pittsfield area includes all of Berkshire County EXCEPT the upper northern and lower southern regions."
If Mr. Supranowicz had used that same calculus forty years ago to invest in Pittsfield real estate instead of South County real estate, he would presently be moaning the fact that his Pittsfield investment was way down in value in comparison to the skyrocketing value of South County real estate.
Using the US News formula, people interested in investing in Pittsfield property should be loading up on the area immediately surrounding Silver Lake for it can only go up in value -- in the future.

Right on dude, that formula is the same one Dumb Ass is using claim how he will pay down the huge national debt he has created based on an assumption of delusional GDP growth in the next three years - hey if it works for Obama, you can't blame Us News for trying it too

[Sally]

WhereDoUwork - sorry you got laid off - try not to be so bitter - to the rest of you naysayers - I see you don't live here - let's keep it that way

[Changing Times]

notice that "Pittsfield" for the purpose of this article includes; Great Barrington, Lenox, Stockbridge, Richmond and Chesire among others.

It is worthless drivel.

[Emeritus]

OK, I was ready to jump on this one, but you already did. This is a big ole' W T F ?

[Gee em Heler Cap and]

It is amazing how people turn good news into bad becasue it interferes with their naysaying it's not the mayor that bring this place down it's the glass half empty crown like emerald and heller.

[IRA-Pittsfield]

I love Numbers , with math you can make anything look good . 3.5 % for the next 10 years should get us back to where we were 5 yrs ago. huh?. NOW the #,s On rising crime , Jimmy where are you , don,t see you as usual. Jimmy and the Bobble heads need to go and "new" heads need a chance. PEDA get rid of Hines _oh i forgot thats filled by EX bobble heads too.

[math]

A 10-year Treasury (no risk) will pay you 3.85%.

You can attain a similar return with municpal bonds, but you are excluded from having to pay federal taxes (so the after-tax return is close to 5%).

Both are safer, and liquid.

I don't get the attraction of a primary residence as an investment where you have to pay 5% to own it (mortgage) and 2% for taxes and a whole lot more for maintenance and heating.

[a pittsgirlbornand raised]

i grew up here in the Pitts, and whoever thinks that that place is a good housing market or place to raise a family is smoking something funny!!
40 years ago, yes it was, but the times have changed, get your babies out of this hole, give them a real chance at a future!!

[pittsfieldhahaha]

yeah maybe we can buy a house and get shot going out to buy milk and a newspaper; gee sounds like a great place!!!

[huzpa]

Singled out wrote:

Pittsfield a top housing market in the nation
By Tony Dobrowolski, Berkshire Eagle Staff
These staff people are asked by City Hall to promote Pittsfield with a positive brand. It wouldn't surprise me if the Chamber of Commerce sends the Eagle rough drafts to publicize at the staffs discretion. Or the Eagles staff dream up positive scenarios to draw outsiders in and to give the rest of us a feeling of assurance stability and that all is well and we're moving forward. EVEN WHEN IT'S NOT.
It's called City Hall hype.

I agree wilh this assessment. The Ruffer and real estate crowd are propagandizing to the max. Rush Limbaugh would be proud of this crowd.
I suggest people get a second opinion on this
one. These folk want to take you to the cleaners.

[Singled out]

huzpa wrote:

<quoted text>
I agree wilh this assessment. The Ruffer and real estate crowd are propagandizing to the max. Rush Limbaugh would be proud of this crowd.
I suggest people get a second opinion on this
one. These folk want to take you to the cleaners.

Amen.I'm glad to see someone sees the picture as I do