Aaron Glantz

Forbes: San Francisco's Economic Outlook among the Worst

Downtown San Francisco from Mt. Davidson
Aaron Glantz/The Bay Citizen
Downtown San Francisco viewed from Mt. Davidson

Forbes is out with a new list of the top "15 cities where the economies are getting worse."

Number six: San Francisco.

(By this Forbes means the government-defined San Francisco metropolitan area, which includes Oakland and Fremont but not San Jose).

To make its call, Forbes used data provided by Moody's and the government, including the unemployment rate, the percentage of mortgages that are 90 days delinquent, migration and job projections.

With an aenemic job growth projection of 0.34 percent and a net population loss of 3,030 expected this year, San Francisco appeared to be slightly better off than Bakersfield and slightly worse than Sacramento.

And if that makes it seem like a lot of California cities are among the worst, we're just getting started.

Riverside was in for the worst economic news in the country, Forbes said, followed by Stockton, which was named the most miserable city for the second time in three years. Los Angeles was number four.

"All of these cities have double-digit unemployment rates and paltry job growth projections. All except LA have housing markets in which prices continue to decline or remain stagnant," Forbes reported.

Aaron Glantz
Aaron Glantz covers housing, real estate, development, and veterans issues for The Bay Citizen. Before joining TBC, Glantz spent seven years covering the war in Iraq and the treatment veterans receive when they come home. ... View Profile
Julio Heflin
Julio Heflin
wrote on 04/04/2011 at 2:42 a.m. PDT


The adjustable rate mortgage that I had before had me nearly to the brink of bankruptcy because of the never-ending payment increases. Now I have 3.18% fixed rate. I would absolutely recommend "Mortgage Refinance 123" I worked with to anyone I know planning to refinance mortgage.

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