Forbes has studied 200 cities with population 256,00 or greater while paying attention to home prices, home values, foreclosure rates, property taxes, political corruption, income taxes, weather, violent crimes, commute times, unemployment and pro sports team performance (sports, ludicrous?).
1. Miami, Florida — 47% of homeowners sitting on underwater mortgages and 364,000 properties in foreclosure.
2. Detroit, Michigan — Police laid off so city can avoid bankruptcy and home prices down 54% in last three years.
3. Flint, Michigan — 775 abandoned homes razed and third worst crime rate in the United States.
4. West Palm Beach, Florida — Home prices down 50% and political corruption.
5. Sacramento, California — House foreclosures among the highest in California, and the Sacramento Kings have lost 73% of their games since 2008-2009 season.
6. Chicago, Illinois — Brutal winters, high property taxes, and
gridlock traffic reported to be the eight worst in the United States.
7. Fort Lauderdale, Florida — Median home prices are down 50% since 2006.
8. Toledo, Ohio — Political corruption, high property taxes and high income taxes.
9. Rockford, Illinois — Fifth highest property taxes in the country in 2010.
10. Warren, Michigan — Median home price dropped 50% over the past three years.
Chicago’s not so bad if you work at home or live close to work, enjoy shoveling snow, live in a small house unless super-rich. There are still a lot of people that enjoy living in Chicagoland, but it can be really bad if you make bad decisions.