The Geography of the “New Normal”

In case you missed the report in Monday’s New York Times, the last few years may have produced a dramatic change in how various sections of the US fare economically.  How dramatic?  Here is a quote from an economist who has been looking at these regional changes:  “Because the recovery is so painfully slow, people may begin to think of the trends established during the recovery as normal, . . .Will people think of Florida, California, Nevada and Arizona as more or less permanently depressed? Think of the Great Lakes as being a renaissance region? I don’t know. It’s possible.”

There’s more.  According to the article:

The reordering of the nation’s economic fortunes can be seen in the Brookings analysis, which found that many auto-producing metropolitan areas in the Great Lakes states are seeing modest gains in manufacturing that are helping them recover from their deep slump, while Sun Belt and Western states with sharp drops in home values are still suffering.

You can read the article here.  The Brookings analysis referred to in the article can be found here.

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