Residential Properties Ltd. has recorded the highest sale on the East Side of Providence this year, selling the historic Frederick E. and Albina Bodell house for $3.8 million. This is the second-highest sale ever recorded on the East Side, according to the Multiple Listing Service.
For the first time since 2009, all sectors of the economy are chugging along at normal rates: The housing industry pulled out of its nosedive, the government sector ended its downturn, and as of this quarter, the industrial recession is over.
The Federal Reserve left interest rates unchanged while saying risks to the U.S. economy have subsided and the labor market is getting tighter, suggesting conditions are getting more favorable for an increase in borrowing costs.
The U.S. economy should continue to grow at a rate of 2 to 2.5 percent, housing sector improvements will likely go on for another couple years, but capital spending could remain weak, as the Fed is likely to stay accommodative with interest rates due to uncertainty overseas.