Detroit Tops 2013 List Of America's Most Miserable Cities
NOT A HAPPY PLACE: Forbes says Detroits woes can be blamed on the decline in America's motoring industry
Forbes put Detroit Mayor Dave Bing on its cover in 2011 for a story with the optimistic headline: “City of Hope.” The premise was that the city had hit rock bottom and was poised for a turnaround.
“Right now, it’s all about survival,” Bing told Forbes.
Two years later, Detroit’s problems continue to multiply, sadly. It is still dealing with high levels of violent crime and unemployment. Home prices, already at historic lows, plummeted a further 35% during the past three years to a median of $40,000 as net migration out of the city continued.
The latest blow was Tuesday’s announcement that the city is on the verge of being taken over by the state. Detroit is in a financial emergency and cannot pay its bills. The city has been issuing debt to fund day-to-day operations. The continuing problems propelled Detroit to the top spot in our 2013 ranking of America’s Most Miserable Cities.
....more at link
http://www.forbes.com/sites/kurtbadenha ... le-cities/
The full list - slideshow
http://www.forbes.com/pictures/mli45lmh ... roit-mich/
The Forbes magazine 10 most miserable cities in America:
- Detroit
- Flint, MI
- Rockford, IL
- Chicago
- Modesto, CA
- Vallejo, CA
- Warren, MI
- Stockton, CA
- Lake County, IL
- New York
