On the boot heels of a Lucrative Investing editorial about the top 25 areas in America to thrive in business, an article must complement that and provide the finest places in America to go broke due to the high cost of living and failing economy. There are a few things that this writer finds rather symbolic, ironic even, about these locations, some due to the locations involved in the earlier article, which you will see if you read both articles, and a few are from personal connections. One thing that the intuitive reader will notice is that in the previous article, a lot of suburbs and rural areas were attributed as the finest places to prosper. In this article, conversely, key cities are picked on. That is primarily caused by a more challenging economy, with most of these cities adding well over one million residents. Thanks to real estate prices that are through the roof, pun intended, high costs of living, and the top unemployment rates in the nation next to Detroit, Los Angeles tops our list. Despite being home to the President of the United States, with high real estate prices, high price of living that is barely under LA and New York City, and almost 10% unemployment, Chicago comes in second. Miami comes in third, despite having three of its close suburbs on the upbeat list from yesterdays article. Residents of The Big Apple have to try to curb the soaring costs of living, exorbinant living expenses, as even rent in many Manhattan condos can draw blood, only with a median income of $69,500. That may seem reasonable, but remember, so many television personalities live in New York City, like all sorts of nationally syndicated newscasters and the Olsen twins. Naturally, that brings the salary for regular people much lower. Coupled with an 8.8% unemployment rate, that brings emotion to the streets of New York, and puts them at number four. Providence, Rhode Island is fifh on the list, primarily due to the fact that business activity is meager. Few businesses are quick to branch out into Rhode Island, few universities there come out with top workforce prospects, and venture business capital cannot be easily obtained. Median salary is around 56,000. That obviously means lots of people are under 30,000 a year, with which it is hard to provide for a family. The most weird thing about this list is the fact that some larger cities that are on this list, namely Miami, Boston, Los Angeles, and San Francisco, have suburbs that made it near the top of the list on yesterdays article about productive areas. The suburbs are thriving, but as soon as you hit the city limits, you supposedly hit poverty central. Regrettably, this is the model of a huge recession. These cities will rebound back like they always do. When the economy bounces back, it will rebound back as hastily as it declined, and these cities will thrive once again.
Article Source: http://www.articlecontentprovider.com/articlesubmit
On the boot heels of a Lucrative Investing article about the top 25 areas in America to thrive in business, an article must complement that and provide the finest places in America to go penniless due to the high cost of living and failing economy.
To find out more about Recession then consider stopping by and following us at Lucrative Investing.
Please Rate this Article
5 out of 5 4 out of 5 3 out of 5 2 out of 5 1 out of 5
