It seems, locally and nationally, that we have finally clawed our way out of the Great Recession.
A recent poll from international financial consulting firm The deVere Group found that high-net-worth investor confidence is at its highest level since 2008. On our cover this week, columnist Scott Van Voorhis writes that commercial rents in Boston and beyond are climbing steadily. And every B&T reader knows that the residential market in Massachusetts is red-hot.
Sure, some parts of the country are still struggling – but overall, things are looking up!
So why does it feel so dismal in the living rooms, in the cafés and the bars, where old-timers and Millennials alike gather to bemoan how hard it is out there?
It might just be because this has been the longest, coldest, bleakest winter in living memory (all right, maybe it just feels like it); or it may be because it is hard out there. If you’re in any of the middle to lower tax brackets, the purported recovery probably hasn’t shone on you yet. Student loans, rents, taxes, T rides and food prices have all gotten more expensive since the recession, while wages have stagnated (if you even have a job).
Recent unemployment figures are deceptive as well – a lower rate does not reflect the number of long-term job-seekers who have given up looking for work. New Fed chief Janet Yellen said last week that the Fed would consider other factors beyond the unemployment rate before raising interest rates.
All these factors make it feel like “the recovery” is happening to anyone but us. But buck up, Bay Staters. Thursday was the first day of spring. The days are getting longer, buoying our spirits and energy levels. As the economy continues its rally, we hardy New Englanders will emerge having endured the weather, and the recession, with our usual tenacity and aplomb.





