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Business Observer Wednesday, Apr. 21, 2010 8 years ago

Forbes: Tampa in trouble

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The Tampa Bay area ranks 2nd on Forbes' list of U.S. cities in free fall.

The latest list from Forbes looks bad for the Tampa Bay area, and even worse for the state of Florida.

The Tampa-St. Petersburg-Clearwater MSA ranks second on Forbes' list of Top 10 U.S. Cities In Free Fall. The magazine cites increased unemployment — up 236% from January 2007 to January 2010, it says — and a 32% decline in median home price relative to market peak as factors in the decision, among others.

The top spot on the list was claimed by Miami, which saw smaller population growth, a larger decline in new building permits, and a bigger drop in the median home price relative to Tampa Bay.

Jacksonville ranked fourth, and Orlando managed a tie for sixth on the list, giving Florida four of the ten spots on the list.

The metro statistical area surrounding Riverside, Calif., ranked third, and the Phoenix area ranked fifth. Los Angeles and Sacramento tied with Orlando for sixth, and Las Vegas and Providence rounded out the list.

The full slideshow is available here, at Forbes' website (link).

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