It is somewhat of a hollow victory whereas ticket prices have increased significantly over the years making attendance at a sporting event a luxury that many families cannot afford. For example, a lower level ticket for a regular season Celtics game that now costs $105.00, was priced at $66.00 ten years ago.

As an aside, until we see a significant decrease in the resale value of Boston area sports tickets, there is some doubt that the region is truly in the grips of a recession. If you want an infield box seat to a Red Sox v. Indians game in Boston, expect to pay a “ticket reseller” around $275.00. I paid $25.00 for an equivalent seat to watch the Sox play in Cleveland.
 
Inflation and spending ran amok during the past ten years. A Ford family car cost $26,000.00 ten years ago, and today the price is more like $34,000.00. Take a look at your Town Report for last year, and for ten years ago. If you live in a medium sized town, you will see that your annual municipal budget increased from $35 million to $83 million in ten years.  How did this happen? We let it happen. Our home values increased, and our spending power increased. Money flowed like water, and we added new government services and personnel. I recently attended a seminar for small business people, and there were more representatives from government agencies in attendance than people in the audience. It sounded to me like many of the agencies provided overlapping or redundant services. I felt like I should have asked the presenters if they had met one another.
 
Elsewhere in this publication you will read about the report published by REACH, LLC which concludes that there is no evidence that it cost more to have an attorney perform a residential closing than having a non-attorney perform a closing. I realize that this is not news to you. Out-of-state enterprises that would like to practice law without a license in Massachusetts have claimed that they can save consumers money by dispensing with the need for lawyers in the closing process. We know that consumers, lenders and the integrity of the land record process will be harmed if non-lawyers are allowed to perform real estate closing. The REACH, LLC study has independently and objectively debunked the assertion that consumers will save money if non-attorneys were to perform closings.
 
We all realize that the work involved in a typical closing has increased significantly over the past ten years, but our legal fees have not increased. Prior to the savings and loan “crisis” of 1987, legal fees for residential closings were in the neighborhood of $800.00 to 1,100.00 per closing, and in some cases one-percent of the loan value. As the real estate market softened, and mortgage business dried up, lenders looked for ways to increase market share. I was running a busy residential conveyancing practice at that time, and I recall receiving calls from bankers promising me that if we cut our legal fees in half, they would send us all of their closings. At first I resisted, but soon acquiesced.  Volume did not materially increase, but a new ground floor for legal fees was established, and the fees have not increased since. Because of the effects of inflation, and the increase in the time involved to prepare for a closing, legal fees have effectively significantly decreased over time. Competition has kept fees low. I went to a residential condominium closing a few days ago representing a seller, and the bank attorney charged $500.00, and the Registry of Deeds charged $665.00. You would think that legal fees should be more than the recording costs! Many charges like stamp taxes, points and brokers’ commissions have kept pace with inflation because they are tied to the purchase price or loan amount. Our fees have not kept pace with inflation, but we have failed to effectively educate the public about the extraordinary value provided to buyers and seller by counsel. You can be proud of your role in maintaining the integrity of the conveyancing process, and you should take the time to remind your clients that you are a best-buy.