Yeah, it's bad. W MA is tough but my VT friends say the rental situation there is dire.
Another screwed up situation is the commercial real estate market. Brattleboro, Greenfield, Northampton all have tons of commercial real estate vacancies because the landlords want outrageous rents. Rather than lower rents they let the properties sit empty and take a tax right off. Northampton commercial store front rents are not far off of Boston prices. One particular POS property mogul (Eric Suher) has basically been holding downtown Northampton (and to some extent Holyoke and Easthampton) hostage for years. Lots of articles about him in the local press. Northampton finally forced him to sell some of his properties through a series of legal maneuvers.