Reading between the lines, this article may be encouraging for those who enjoy today’s lower home values — and discouraging for those wanting to sell their homes relatively soon at better prices.
No one really knows how the Massachusetts economy will fare once a recovery takes hold. We may have a stronger inititial recovery compared to other places in the country, such as Las Vegas. Let’s hope that’s where we’re headed.
But the long-term trend points to two things for Massachusetts: 1.) The state’s population has barely grown in recent decades, while the average age of residents has increased. 2.) The growth of jobs here over the past two decades has been slower compared to Sun Belt areas.
Massachusetts remains a high-cost-of-living state — and a “jobless recovery” would fit into our recent negative trend.
File under: Monday morning blues.