People who live in areas that did poorly during the Great Recession and didn't make a financial comeback could be "trapped" in a "Catch-22" situation, according to the Economic Innovation Group.
The Huffington Post reports on EIG research late in 2018 that examined approximately 25,800 zip codes to see how residents fared in the wake of the Great Recession. EIG compared the periods 2007–2011 and 2012–2016 to see which communities had been left behind when the country started to pull out of the big fiscal hole it was in.
It found that many rural communities, largely in the South, remain behind the 8-ball and have never actually recovered—and that many of the people in them, seeking a way out through higher education, are actually now mired in student debt and are trapped where they are.
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Marlene Satter
Marlene Y. Satter has worked in and written about the financial industry for decades.
