Forbes Magazine analyzed major economic indicators for the country's 40 largest Metropolitan Statistical Areas (MSA) and discovered that 10 cities are facing worsening economic conditions.
The Forbes ranking accounted for median home prices, building permits, net population change, GDP and percent change in unemployment between 2007 and 2010. It found that cities with the worst economic performance are concentrated in Florida, the Southwest and California.
"Cities in the 'Sand States' of Florida, California, Arizona and Nevada, where overbuilding was rampant, are...in trouble, claiming nine of the top 10 spots in our list of cities in free fall...The long-term consequences of the housing crash in these cities are still playing out, and new factors that complicate a recovery keep cropping up.
Florida cities dominate our list, with Tampa, Orlando and Jacksonville joining Miami. Florida's real estate market keeps falling even as some herald the start of a rebound...Picturesque Providence, R.I., is the only New England metro on our list. Economically, it's struggling far more than other cities in the region. California cities are struggling too. Riverside, Los Angeles and Sacramento are suffering because of the knocks they took after their inflated housing markets began to plummet. Unemployment in the City of Angels has nearly tripled in three years, to 12%. Riverside's unemployment has also ballooned, to 15%. Meanwhile Sacramento saw a 75% drop in new building permits."
FULL STORY: Ten U.S. Cities In Free Fall
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
San Francisco's School District Spent $105M To Build Affordable Housing for Teachers — And That's Just the Beginning
SFUSD joins a growing list of school districts using their land holdings to address housing affordability challenges faced by their own employees.
The Tiny, Adorable $7,000 Car Turning Japan Onto EVs
The single seat Mibot charges from a regular plug as quickly as an iPad, and is about half the price of an average EV.
Trump Approves Futuristic Automated Texas-Mexico Cargo Corridor
The project could remove tens of thousands of commercial trucks from roadways.
Austin's First Single Stair Apartment Building is Officially Underway
Eliminating the requirement for two staircases in multi-story residential buildings lets developers use smaller lots and more flexible designs to create denser housing.
Atlanta Bus System Redesign Will Nearly Triple Access
MARTA's Next Gen Bus Network will retool over 100 bus routes, expand frequent service.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Smith Gee Studio
City of Charlotte
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
US High Speed Rail Association
City of Camden Redevelopment Agency
Municipality of Princeton (NJ)