New England's suburbs were once an idyllic place to live with historic colonials featuring wrap-around porches, spacious lawns, and a pool were the picturesque ideal of the American Dream. Today, many Realtors are afraid houses like the one pictured above will take awhile before they sell.
Cities have seen an unprecedented rise in prices over the last half decade coming out of the recession. Most headlines are filled with the price crunch many urbanites face in trying to make a decent living or raising a family. But out in New England's suburbs, it's a different story, declares Alana Semuels for The Atlantic.
It might not be too big of a jump to suggest that these parts of New England are starting, slightly, to resemble the Rust Belt. Connecticut, for instance, faces $26 billion in unfunded pension liabilities as retirees lived longer and the state failed to contribute an adequate sum. Three of the four major ratings agencies maintain a “negative” outlook on Connecticut’s credit. Manufacturing jobs have been trickling out for years; in cities such as Bridgeport and New Britain, graffiti-covered empty warehouses with broken windows haunt the skyline, reminiscent of Detroit.