Unemployment in Massachusetts fell to a jaw-dropping 3.6 percent in September, the lowest in more than 15 years, leaving little doubt the state has recovered from the Great Recession and its economy is steaming ahead.
The Federal Transit Administration remains “committed in principle” to funding the Green Line light rail extension into Medford and Somerville, but made clear it still has reservations about the MBTA’s embattled project, according to a letter obtained by the Globe.
In a letter sent last week to Transportation Secretary Stephanie Pollack, FTA regional administrator Mary Beth Mello said the federal agency still needs a “good deal of clarifying information” before signing off on the project and handing over nearly $1 billion in federal funding.
In January, around the time General Electric executives were ratifying the decision to move the conglomerate’s headquarters from Connecticut to Boston’s Seaport District, David Hurley was living in an Airbnb apartment rental in the same neighborhood. Hurley had landed some early funding from two Boston venture capital firms, and he had decided to move the headquarters of his startup from Raleigh, N.C., to Boston.
HOW can America’s leaders foster broad prosperity? For most Republicans — including Donald J. Trump — the main answer is to “cut and extract”: Cut taxes and business regulations, including pesky restrictions on the extraction of natural resources, and the economy will boom.
I’ve long argued that the arts can help cities attract talent, spur innovation, and grow their economies. But there’s no shortage of naysayers out there who will counter that the only connection between the arts and urban economies is the fact that wealthier places can afford more art and artists.
Nearly a decade after the housing crash, homeownership is still waning and renting is on the rise, according to U.S. Census data released Thursday.
The homeownership rate fell to 63.1% in 2014, down from 63.5% in 2013, according to an analysis of the American Community Survey data prepared by Jed Kolko, a senior fellow at the Terner Center for Housing Innovation at the University of California, Berkeley. The homeownership rate peaked at 67.3% in 2006 and has fallen steadily since then.
The United States is not building enough homes to meet the nation's housing demand. It's difficult for many to accept this fact given some of the over-building that took place during the housing bubble. However that wave peaked around ten years ago and residential construction had since declined to historically low levels. This unprecedented weakness in construction activity has persisted over the past 6-7 years, with only limited signs of recovery. Here are two data points:
Mention the term “millennial” and you may as well run for cover. The generation of young adults who came of age during the financial crisis — and in the glare of social media — is both lauded for embracing innovation and social responsibility and despised for being lazy and self-indulgent.