I argued last week that the high cost of housing in cities such as New York and San Francisco has a bright side for the larger U.S. economy: As people who would like to live in these highly desirable but dauntingly expensive areas are priced out, they choose instead to settle in upwardly mobile communities that benefit from the new talent and wealth.
After 28 consecutive months of year-over-year percentage increases, foreclosure petitions in Massachusetts fell 1.1 percent in July compared with July 2015, according to The Warren Group, publisher of Banker & Tradesman.
Edward A. Hjerpe III is president and CEO of Federal Home Loan Bank of Boston. The bank is working with New England states to spur economic development through various programs, including Jobs for New England and Helping to House New England. Hjerpe talks with Providence Business News about those programs and how Rhode Island fits into the overall mix.