Towns Strapped For Cash, Again

A recent article in The Boston Globe discusses how the Massachusetts housing slump has put a strain on municipal finances.

Ironically, the article starts by stating these same cities and towns struggled during the housing boom.

"Only a few years ago, a residential building boom and its pressure on school, police, and fire services had officials and taxpayers worried.

"But with the nation in the throes of a real estate slump, their fears have largely shifted the other way, as a deficiency of housing starts has created a vacuum in new taxable property."

In other words, many of these municipalities are incapable of living within budgetary constraints regardless of the condition of the economy and other factors.

Read The Boston Globe Article