2010 | volume 12 issue 1 Mass Benchmarks A J o u r n A l o f t h e M A s s A c h u s e t t s e c o n o M y Is housing in Massachusetts More Affordable? (only for the lucky few) state of the state economy the economic Vitality of the Blackstone Valley Mills A renter’s Market? think Again! A publication of the University of Massachusetts in cooperation with the Federal Reserve Bank of Boston Mass Benchmarks 2010 | volume 12 issue 1 MassBenchmarks, published by the university of Massachusetts in cooperation with the federal reserve Bank of Boston, provides timely information about the Massachusetts economy, including reports, commentary, and key data about the state’s regions and industry sectors that comprise them. the editors invite queries and articles on current topics involving the Massachusetts economy, regional economic development, and key growth industries from researchers, 4 academic or professional economists, and others. A topical outline and brief biography of the author should be sent to rebecca loveland at
[email protected]. A complete list of past issues, latest news, updates, and additional research on the Mas- sachusetts economy can be found at www.massbenchmarks.org. 12 27 Contents 2 Letter from the President Jack M. Wilson 3 Excerpts from the Board A slow, uncertain recovery lies ahead. 4 Economic Currents: The State of the State Economy Michael Goodman and Robert Nakosteen uncertain waters in the wake of the great recession. 12 Is Housing in Massachusetts More Affordable? (Only for the Lucky Few) Lindsay Koshgarian House price pressures have eased, but few prospective home buyers are taking the plunge.