Reuters: Oddly Enough: Detroit named most miserable U.S. city in Forbes ranking

Reuters: Oddly Enough Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Detroit named most miserable U.S. city in Forbes ranking Feb 21st 2013, 22:49 Tweet Share this Email Print Related News Panel finds Detroit in dire shape; up to governor to act Tue, Feb 19 2013 Mortgage lender Quicken bets on downtown Detroit's revival Tue, Feb 19 2013 Forget the big comeback; Detroit focuses on what can be saved Mon, Feb 18 2013 Detroit emergency manager, a job for a "poor devil" Fri, Feb 15 2013 Analysis: Stuck in reverse, Detroit edges closer to bankruptcy Mon, Jan 28 2013 Analysis & Opinion Time to begin fixing Detroit’s fiscal problems Counterparties: All loans are risky loans The Detroit skyline is shown during Earth Hour across the river from Windsor, Ontario March 29, 2008. Credit: Reuters/ Mike Cassese NEW YORK | Thu Feb 21, 2013 5:49pm EST NEW YORK (Reuters) - With its violent crimes, high unemployment, dwindling population and financial crisis, Detroit was named on Thursday as the most miserable city in the United States. It toppled Miami, which held the title last year, and surpassed Flint, Michigan, Rockford and Chicago in Illinois and Modesto, California, which rounded out the five most unhappy urban areas. "Detroit's problems are hardly news. It has been in a four-decade decline paralleling the slide in the U.S. auto industry," according to Forbes.com, which compiles the yearly ranking. Earlier this week, a panel of experts said the automotive city was facing a fiscal emergency and potential bankruptcy, as well as a possible financial takeover by the state. Flint, which is being run by an emergency manager appointed by the state governor more than a year ago, faces similar problems and has some of the worst crime rates in the country and a jobless rate of 11.3 percent, according to Forbes.com. To compile the list, Forbes looked at 200 of the country's largest urban areas and ranked them on factors including crime rates, foreclosures, taxes, home prices, commute times, weather and decreasing populations. Violent crime, high foreclosure rates and declining home prices pushed Chicago into the fourth spot, along with the high expense of living there. New York, which came in at No. 10, was also cited for its high cost of living. The Big Apple has one of the country's highest income tax rates and longest average commuting time at 36 minutes. The full list of the top 20 most miserable cities can be found at www.forbes.com/sites/kurtbadenhausen/2013/02/21/detroit-tops-2013-list-of-americas-most-miserable-cities/ (Reporting by Patricia Reaney; Editing by Todd Eastham) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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