In Detroit, the median price of a home is now estimated at $7500, less than the lowest priced new car on the market. In Lehigh Acres, once a middle-class suburb of Miami, one out of every four people is now on food stamps. What's now being called the Great Recession comes hard on the heels of a massive boom in construction. Construction workers, mostly men without college degrees, are among those most likely to find themselves unemployed. Just as different sectors of the economy are hit to different degrees, so are different regions of the country. Wall Street's been hit hard by unemployment, but New York City is strong and diverse enough to rebuild. Other parts of the country may not be so lucky. We examine the impact of the recession in different regions and their different prospects for economic recovery.
Tracking the Great Recession, Region by Region
Mark McMullen - Senior Economist, MoodysEconomy.com, Robin Boyle - Professor of Urban Economic Development, Wayne State University, Damien Cave - New York Times - @damiencave, Bill Bishop - Daily Yonder, Bill Virgin - Business Columnist, Seattle Post-Intelligencer