Forbes says their equation for making their list includes looking at unemployment and inflation rates, foreclosures, crime statistics, and tax percentages.
It appears that California’s housing crisis may actually be getting better, or maybe the rest of the country is getting worse.
In naming the new #1, Miami, Florida, Forbes cited the beach city’s growing divide because of still-falling home prices.
California’s Capitol City, Sacramento, ranks #5.
In addition to ranking high in national lists with a high foreclosure rate, the Forbes article focused on Sacramento’s athleticism. “Sacramento’s lone pro sports team is flirting with a move to Anaheim unless the city delivers financing for a new arena. Sac-Town might not miss them. The team has lost 73% of its games since the start of the 2008-09 season,” stated the article.
Stockton topped the list in 2010 and 2011.
The ranking prompted loyal residents to create their own counterarguments on youtube and social media, and city leaders to reach out to Forbes to reconsider their ranking by examining the quality of life in Stockton.
In the 2012 rankings, Stockton fell to #11, beating Sacramento.
Forbes noted “Last year's No. 1 miserable city got a boost as housing prices have stabilized to some degree after a 45% drop between 2006 and 2008. Stockton still has plenty of problems, though. It ranks among the country's six worst when it comes to unemployment, foreclosures and violent crime.” FOX40 has reported on some of the violence plaguing the city, read more about it here.
Other California cities on the list include: #15 Merced, #17 Bakersfield, #18 Vallejo, and #19 Modesto. In nearly every case, Forbes referred to the city’s current housing or unemployment situation.
To read more about Forbes' list and which cities ranked where, click here.