The 20 US Cities That Have Totally Missed The Recovery

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The worst-hit cities of the Great Recession are still far from anything that feels like a recovery, according to Brookings’ quarterly Metro Monitor.Home prices are still around 50% below peak in bubble hotspots like Las Vegas and Miami.

Employment is down over 10% from peak in Rust Belt cities like Detroit. Likewise, gross metro production is down as much as 15% from peak.

#20 Fresno, CA

0.7% decline in gross metro product since peak

8.3% decline in employment since peak

45.4% decline in home prices since peak

Fresno just cut the number of voting precincts from 405 to 205 because of budgetary issues. Now people will find it harder to vote in a new government.

Source: Brookings Institute

#19 Youngstown, OH

3.9% decline in gross metro product since peak

10.6% decline in employment since peak

16.4% decline in home prices since peak

Yesterday Mayor Jay Williams declared the launch of Operation Redemption, a plan to demolish 20 vacant houses in the south side district that are known havens for criminal activity.

Source: Brookings Institute

#18 Sacramento, CA

0.9% decline in gross metro product since peak

9.5% decline in employment since peak

45.6% decline in home prices since peak (second worst in the country)

Census data showed Sacramento area income dropping 6% to its lowest level in a decade.

Source: Brookings Institute

#17 Providence, RI

2.7% decline in gross metro product since peak

8.8% decline in employment since peak

26.0% decline in home prices since peak

The Providence school system plans to close a $17 million current-year deficit by shutting down schools and borrowing $8 million from the city.

Source: Brookings Institute

#16 Stockton, CA

1.2% decline in gross metro product since peak

8.3% decline in employment since peak

58.6% decline in home prices since peak

Stockton and other Sun Belt metros saw the brunt of a recent rise on poverty, according to The New Republic.

Source: Brookings Institute

#15 Los Angeles, CA

2.9% decline in gross metro product since peak

8.2% decline in employment since peak

34.9% decline in home prices since peak

One in six locals live in poverty. Everyone is furious about exorbitant local government salaries.

Source: Brookings Institute

#14 Modesto, CA

-0.7% decline in gross metro product since peak

9.2% decline in employment since peak

59.6% decline in home prices since peak (worst in the country)

It's gotten so bad people have stopped having babies. Modesto births dropped from 8,826 in 2007 to 7,941 last year, according to Modesto Bee.

Source: Brookings Institute

#13 Boise, ID

2.0% decline in gross metro product since peak

10.2% decline in employment since peak

32.5% decline in home prices since peak

A recent survey found a fractional number of job vacancies in Idaho, with more than half paying less than $10 per hour, and only one in five contributing to the economic recovery.

Source: Brookings Institute

#12 Phoenix, AZ

1.0% decline in gross metro product since peak

11.0% decline in employment since peak

45.6% decline in home prices since peak

Phoenix residents are outraged over a new tax on water usage over 10,000 gallons-per-month.

Source: Brookings Institute

#11 Jacksonville, FL

3.8% decline in gross metro product since peak

8.3% decline in employment since peak

32.4% decline in home prices since peak

Foreclosures and short sales accounted for 31% of all home sales in Jacksonville in Q2, according to RealtyTrac.

Source: Brookings Institute

#10 Oxnard, CA

3.0% decline in gross metro product since peak

8.9% decline in employment since peak

37.9% decline in home prices since peak

The FBI recently raided Oxnard city hall in a corruption investigation, related to a $250 million groundwater boondoggle and a lavish $20,000 grand opening party.

Source: Brookings Institute

#9 Miami, FL

2.9% decline in gross metro product since peak

9.8% decline in employment since peak

44.9% decline in home prices since peak

In September, Miami's real estate market posted its slowest month since 2009. Realtors are terrified of a double dip.

Source: Brookings Institute

#8 Toledo, OH

5.0% decline in gross metro product since peak (third worst in the country)

11.8% decline in employment since peak

23.2% decline in home prices since peak

Economists warn it may take five years for Toledo employment to approach pre-Recession levels.

Source: Brookings Institute

#7 Tampa, FL

3.3% decline in gross metro product since peak

10.1% decline in employment since peak

40.4% decline in home prices since peak

Dismal attendance at Tampa Bay Rays games are no mystery as income and employment levels languish.

Source: Brookings Institute

#6 Riverside, CA

3.2% decline in gross metro product since peak

12.8% decline in employment since peak

49.5% decline in home prices since peak

Riverside police were accused of trashing a homeless encampment last week. Poverty is bursting at the seams.

Source: Brookings Institute

#5 North Port, FL

3.4% decline in gross metro product since peak

14.5% decline in employment since peak

48.7% decline in home prices since peak

The North Port city manager abruptly quit and took a job in Iowa, costing the city an estimated $300,000.

Source: Brookings Institute

#4 Palm Bay, FL

5.0% decline in gross metro product since peak

10.9% decline in employment since peak

46.7% decline in home prices since peak

Palm Bay has started demolishing foreclosed homes and turning them into affordable housing. Currently 10% of its 35,000 homes are in foreclosure.

Source: Brookings Institute

#3 Detroit, MI

12.3% decline in gross metro product since peak (second in the country)

17.1% decline in employment since peak (worst in the country)

41.7% decline in home prices since peak

The latest in an unlimited slew of bad news from Detroit is that the formerly world-class Detroit Symphony Orchestra is striking over pay cuts.

Source: Brookings Institute

#2 Las Vegas, NV

4.2% decline in gross metro product since peak

13.9% decline in employment since peak

55.2% decline in home prices since peak

Cash-for-jobs bribes are approaching levels not seen since the mobster era.

Source: Brookings Institute

#1 Cape Coral, FL

14.8% decline in gross metro product since peak (worst in the country)

15.8% decline in employment since peak (second worst in the country)

56.1% decline in home prices since peak (third worst in the country)

Cape Coral slashed $6.2 million from its budget, leading to protests over inevitable layoffs.

Source: Brookings Institute

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