Bellevue, WA (PRWEB) October 25, 2007
NuWire Investor, an online financial news publication, recently published its rankings of the Top 5 Declining U.S. Markets. In its analysis, NuWire considered a combination of data from the U.S. Census Bureau and Bureau of Labor Statistics.
The five markets were selected based on U.S. Census Bureau data showing the percentage of population declines from 2000 to 2006 for Metropolitan Statistical Areas (MSAs) and Metropolitan Divisions of MSAs with at least one million residents. One candidate for the list--New Orleans--was omitted because much of its losses were caused by a natural disaster rather than economic challenges.
Each of the Top 5 Declining U.S. Markets experienced job losses along with population losses. Detroit, Buffalo, Pittsburgh and Cleveland suffered from manufacturing and auto industry losses, while San Francisco lost high tech jobs in the dot-com bust.
In addition, the high cost of living in San Francisco may have driven some of its younger population to move out of the city to find more affordable housing.
Most of the markets included on the list are MSAs, but two of them are large Metropolitan Divisions within greater MSAs. The overall Detroit and San Francisco MSAs would not have qualified for this list of declining markets, but the Metropolitan Divisions within them did.
The Top 5 Declining U.S. Markets from 2000 to 2006 were:
1. Detroit-Livonia-Dearborn Metropolitan Division
2. Buffalo-Niagara Falls MSA
3. Pittsburgh MSA
4. San Francisco-San Mateo-Redwood City Metropolitan Division
5. Cleveland-Elyria-Mentor MSA
To view the full rankings, visit http://www.nuwireinvestor.com/articles/top-5-declining-us-markets-51299.aspx.
NuWire Investor provides investment news on a range of alternative investment topics, such as U.S. and international real estate, tax liens and deeds, lending, franchising and others. For more information, and to access additional analysis, research, commentary and expert interviews, see http://www.NuWireInvestor.com.