'Worth Less Tomorrow Than Today' In Mass.

The Rockland Mariner reports on the housing bubble in Massachusetts. "If you’re looking to buy a new house, Rockland’s the place to go. Just don’t sell your house. That was the assessment of (realtor) Dan Direnzo. Based on a study he has conducted on housing in Rockland, prices have gone from $302,353 to $282,500 in the span of three months. This fluctuation, which is caused in part by the diverse zoning seen in Rockland, Whitman and Abington, could spell trouble for anyone looking to sell their home." "'It’s not a good time to be a seller,' said Direnzo. 'By all indications a house can be worth less tomorrow than it is today.'" "Direnzo said the market has changed over the last few years from a seller’s market to a buyer’s though there have been precious few willing to sign on the dotted line. Since September there has been one sale of a single-family home in the range of $330,000-$400,000, a first for the long-time realtor. 'In 22 years I have never seen less people buying,' said Direnzo. 'The whole housing industry seems off by 35 percent.'" "Because of the fluctuating market, Direnzo said sellers have to face the reality that they are unlikely to get what they paid for when they try to sell their home. He said this spiral could last as long as another three or four years. 'It’s a good time to buy if you have to have a house,' said Direnzo. 'But if you’re out shopping for investment purposes, it’s not a good time.'"