U.S. Cities In Free Fall
Francesca Levy, Forbes.com
BESIDES FLORIDA, CALIFORNIA is suffering: "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. These are troubling signs for Cali metros, but not surprising. The end of the state's home-price climb triggered more than just a housing slump."
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