A resilient economy. An aging workforce. Too few homes. These themes shaped GBAR’s Economic Expectations event, held October 21, 2026, at Boston Federal Reserve Plaza.

Dr. Mark Melnik, Director, Economic & Public Policy Research at UMass Dartmouth, and Danielle Hale, Chief Economist at Realtor.com, examined Massachusetts and national economic trends, with housing affordability at the center of the discussion.

Key takeaways:

• Massachusetts is growing, but job gains remain slow. Professional and technical services help drive economic output, while an aging population constrains workforce growth.
• Immigration is critical to the workforce. Melnik noted that immigration has accounted for approximately 80 percent of Massachusetts’ labor force growth since 1990.
• Housing production continues to lag. Despite efforts to encourage development, too few completed homes keep pressure on prices and limit options for residents and workers.
• National resilience hasn’t resolved affordability. Hale outlined how limited inventory, elevated mortgage rates, and pressure on household budgets continue to challenge buyers and sellers.
• Buyers should plan for today’s rates. “Rate-proofing” a budget means choosing a purchase that works at current borrowing costs, without depending on future rate declines.

For REALTORS®, the message was clear: Help clients make informed decisions based on their finances and current conditions. Expanding housing supply remains essential to affordability, economic stability, and homeownership opportunities for future generations.

We extend our sincere thanks to the sponsors who made this event possible

Keynote Speaker Sponsors: Cambridge Savings Bank, Metro Credit Union

Silver Sponsor: Eastern Bank

Bronze Sponsor: Asset Preservation Inc. 

For photos from the event, please visit our Facebook Album link: Economic Expectations Photos