Coping with the Great Recession: Disparate Impacts on Economic Well-Being in Poor Neighborhoods
Coping with the Great Recession: Disparate Impacts on Economic Well-Being in Poor Neighborhoods, Robert I. Lerman and Sisi Zhang. January 7, 2013.
“This study examines how residents of high- and low-poverty neighborhoods fared in terms of employment, wealth, and housing losses during the Great Recession, using the Panel Study of Income Dyanmics. While residents of high-poverty neighborhoods did not experience different rates of change in employment, wages, or home equity losses than residents of low-poverty neighborhoods between 2007 and 2009, their position prior to the onset of the Great Recession exposed them to much higher absolute levels of economic insecurity. Further, the recession severely diminished wealth holdings of families in high-poverty neighborhoods and put them at an increased risk of foreclosure.”