Thursday, April 22, 2010

Miami in the News - We're Number One!

That's Right, Of the 10 Major U.S. Cities in Economic Free Fall - Miami Is Number One!

According to  Forbes Magazine We Have the Worst Housing Market in the Nation.  Since I've been looking to sell my house for about three years now.  That's certainly no surprise to me. 

But it's not just South Florida that's in Economic Free Fall.  Apparently the entire Sunshine State is doing badly.  In addition to Miami and Ft. Lauderdale the top 10 list also included Tampa, St. Petersburg, Jacksonville and Orlando.  That means a total of Six Florida Cities are among the Worst in the Nation.  The list also included other notoriously bad economic markets, like Phoenix Arizona, Las Vegas Nevada and Southern California in general.  But Miami and Fort Lauderdale were tied for number one.  Here's the entire list...

Forbes Magazine U.S. Cities in Economic Freefall.

1. Tie -  Miami and Ft. Lauderdale, Florida

2. Tie - Tampa and St. Petersburg, Florida

3. Tie - Riverside and San Bernardino, California

4. Jacksonville, Florida

5. Phoenix, Arizona

6. Orlando, Florida

7. Tie - Los Angeles and Long Beach, California

8. Sacramento, California

9. Las Vegas, Nevada

10. Providence, Rhode Island

It's worth noting that this list by no means represents the worst economies in the country, but rather the cities who have fallen most since the Bush Recession began in 2007.  Forbes used a combination of economic statistics to compile the list, including unemployment rates, housing prices, new construction permits and several other pertinent economic factors.

Just Thinking

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1 comment:

  1. Oh Miami! All my life I've been hearing that we're up-and-coming but somehow it seems we never manage to make it all the way up.

    Oh well, I guess it's time we faced the facts. We always have been and always will be nothing more than the country's southernmost swamp.