Time for a Lifestyle Adjustment?

2539334956_87cef7e457.jpgNo question things have changed a bit in the past few months, but when I wrote in August that foreclosures in some of the city’s tonier neighborhoods could be right around the corner, I didn’t mean 60 days around the corner.

And yet there they are, foreclosures in Beacon Hill (actually, this is in Dorchester) and Back Bay, plain as the Golden Dome or the Pru. So, distressed owners and would-be buyers, battling to stay on top of your payments, or trying to find some way to squeeze a new payment in, may I humbly suggest making a lifestyle adjustment?

I’ve heard about the trauma downgrading your spending can incur, but let’s be realistic: either way, you’ll lose the inflated sense of wealth—but if you don’t get into a property you can actually afford, you’ll be giving up your home and credit rating, too.

So say you did it to be edgy. Say you did it for the space. Say you realized the emptiness of your Platinum card life. You could even tell the truth and say you did it to save money. But whatever you say, decide to say it soon, or you’ll be just another foreclosure statistic, saying it’s someone else’s fault to a nation that has become far too preoccupied with their own losses to worry anymore about yours.

Some comparatively humbler open house suggestions suggestions for the distressed upscale owner:

73 Lexington Ave #2
Somerville, MA 02144

2 beds, 2 baths
2,097 sq. ft.
$679,000
Sunday, October 12, 2008 1:00 PM – 2:30 PM

131 Willow Ave #2
Somerville, MA 02144

2 beds, 2 baths
1,232 sq. ft.
$535,000
Sunday, October 12, 2008 11:00 AM – 1:00 PM

22 Appleton St #1
Somerville, MA 02144

1 beds, 1 baths
783 sq. ft.
$319,000
Sunday, October 12, 2008 12:00 PM – 1:30 PM

Sarcastic Econ Cat Sez: Bailout Bill Working Purr-fectly

Boston Sweet Digs Home

  • John Keith

    Okay, let me go out on a limb here and say, if you’re not quick to change this, you’re looking at a lawsuit.

    The property at 55 Charles Street that is available for sale is in DORCHESTER, not on Beacon Hill.

    The data for the unit on Marlborough Street is accurate, however. This was owned previously by a Boston-area real estate agent / investor who has sold (or “lost”) all his properties over the past couple of years.

  • http://cosmocatalano.com cosmo.catalano

    I check the ZIP code on each house. That’s usually pretty good at sussing out any misplaced listings. I guess Redfin’s software just got confused this time.

    Anyway, I wouldn’t go so far as to say that *I’ll* get sued. I don’t really have any money, and for the record, I know I a lot of very, very good lawyers.

    Too bad to hear that investor has lost some properties. It was a can’t-miss market for a while, and I’m sure plenty of other people got caught out like that, too.

  • John Keith

    When I said “sued” I meant “not get sued”; I was just scared for a moment and wanted to warn you.

    The ZIP Code shows it as Beacon Hill; not sure why it’s wrong. I blame the source (and I’m sure its terms & conditions explains that Redfin collects data from third-party sources and therefore cannot be held accountable for errors & omissions.)

    Oh, and didn’t you hear, the economy is all better now?