With chronic double digit unemployment and both the poverty level and high school drop out rate at an astounding 31.9%, the bankrupt City of San Bernardino has been named the #1 Worst Run City in the United States of America by 27/7 Wall St.
According to the report:
Few cities were hurt by the housing crisis to the same extent as San Bernardino, where the median home value declined by 57.6% between 2007 and 2011, more than any other large city in the U.S. By the end of 2011, almost 4.4% of homes in San Bernardino were in foreclosure, among the highest rates for all large cities. That year, the unemployment rate reached 17.6%, or nearly double the U.S. rate and almost 10 percentage points higher than city’s annual rate in 2007.
The full report by 24/7 Wall St. can be read by clicking here.