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24/7 Wall St.: The Best- and Worst-Run Cities in America

Worst-Run Cities

1. San Bernardino, Calif.

Population: 213,008
Credit rating: not rated
Violent crime per 1,000 people: 8.76 (27th highest)
Unemployment rate: 17.6% (3rd highest)

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. In August, declining home values and rising employee retirement costs forced the city to file for bankruptcy. But the city’s filing is being challenged by its largest creditor, the California Public Employees’ Retirement System, which is demanding payments.
(iStock)

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America's Best- and Worst-Run States
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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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