Economic Difficulties Leave Uncertain Outlook at Year's End

Start talking to people about the state of the Vineyard economy, and you can detect an edginess, an air of concern that mirrors the condition of a nation in the midst of recession, war and ongoing fear of terrorism.

Two-Speed Economy: High End Is Spending, Bottom End Suffering

The good news for the Vineyard economy is that in the first three months of this year banks loaned some $240 million for new mortgages, well above the numbers for the previous two recession years.

Even better, said Chris Wells, president and chief executive officer of the Martha’s Vineyard Savings Bank, most of that was for new purchases rather than refinancing of existing loans, the biggest part of the mortgage business during the downturn.