A recent Yahoo News article mentions that an estimated 10 million homeowners owe more on their mortgages than their homes are worth. Income to expense ratios are also shifting with almost 15 percent of American homeowners with a mortgage spending half of their income or more on housing costs. The article lists the markets most affected by this shift and although Massachusetts was not one of the top 10 mentioned as the highest “cost-burdened”, it is still important to consider purchasing a property with a manageable mortgage to income ratio (approx 30-33%).

TRE has researched some New to Market Single Family Properties with asking prices under $300K which may be appealing, especially to first-time homebuyers.