Condo prices in the core downtown Boston area hit a record high last quarter — at a median price of $515,000 — according to a Globe story using LINK data. The previous record was set in 2008, just prior to the financial crash.
One word: Impressive. It means the market, at least in one distinct area of the city and state, has officially and fully recovered. That may not be cause for celebration elsewhere, and understandably so. It’s also not cause for celebration for those who can’t afford such prices.
But housing is such a critical part of the economy and its health matters. Simple as that. So this is, overall, a really good sign of a slowly recovering economy.