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Old 03-31-2011, 10:28 AM
JackieBlue JackieBlue is offline
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Cities Where Things are Getting Worse

http://realestate.yahoo.com/promo/ci...ing-worse.html

Quote:
It’s no secret the U.S. economy has for the past several years been slogging along at a slovenly pace. Hopeful signs of recovery are peeking through in some areas of the country, but many more continue to struggle under the weight of collapsed housing markets and high unemployment. But even California, home to Silicon Valley and Hollywood and once the darling of the housing industry, is no longer feeling golden.

Six California cities claim spots on our list of Cities Where The Economy May Get Worse. Riverside took the number one spot, thanks to a high unemployment rate (13.9%) coupled with weak job growth, a hefty number of mortgage loans 90 days or more delinquent (8.21% of all loans) and a projected migration pattern that finds 4,000 residents expected to leave the area this year. MORE...
Quote:
5. Bakersfield, Ca.
MSA: Bakersfield-Delano, Calif.
Unemployment rate: 16.2%
Mortgages 90-plus days delinquent: 6.85% of loans
12-month home price forecast: 3% decrease
2011 net migration projection: 311 residents incoming
2011 Job growth projection: 0.21% increase

4. Los Angeles, Ca.
MSA: Los Angeles-Long Beach-Santa Ana, Calif.
Unemployment rate: 11.7%
Mortgages 90-plus days delinquent: 5.53% of loans
12-month home price forecast: 1% increase
2011 net migration projection: 7,880 residents leaving
2011 Job growth projection: 0.88% increase

3. Detroit, Mich.
MSA: Detroit-Warren-Livonia, Mich.
Unemployment rate: 13.3%
Mortgages 90-plus days delinquent: 5.42% of loans
12 month home price forecast: 2% decrease
2011 net migration projection: 1,340 residents leaving
2011 Job growth projection: 0.53% increase

2. Stockton, Ca.
MSA: Stockton, Calif.
Unemployment rate: 18%
Mortgages 90-plus days delinquent: 7.78% of loans
12-month home price forecast: 1% decrease
2011 net migration projection: 620 residents leaving
2011 Job growth projection: 0.54% increase

1. Riverside-San Bernardino, Ca.
Metropolitan Statistical Area (MSA): Riverside-San Bernardino-Ontario, Calif.
Unemployment rate: 13.9%
Mortgages 90-plus days delinquent: 8.21% of loans
12-month home price forecast: 1% increase
2011 net migration projection: 4,110 residents leaving
2011 Job growth projection: 0.69% increase

The total top 15 are in a slideshow here:
http://www.forbes.com/2011/03/16/cit..._slide_16.html
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Old 03-31-2011, 10:58 AM
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Re: Cities Where Things are Getting Worse

The first one I thought of was Detroit. It is on the list but the rest are west coast cities. Costs and poor planning by those running the cities are catching up with all of us. The bad part is the folks in office now inherited these problems and now are stuck with trying to make a bad situation better. Tough spot to be in for sure. In many respects I expect they are getting a lot more than they bargained for.
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