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Remember when we suggested yesterday that a literal move might be your best move in the quest to beat the Recession? Further evidence has emerged today as Forbes released their list of America's Most Overpriced Cities. The main offender: Los Angeles, which boasts "bloated housing prices, lofty living costs and unemployment rates among the highest in the nation."
Vault's base of operations, New York City, came in fourth. Despite the fact that earning power for individuals with bachelor's degrees is significantly higher in NYC than almost any other metro area, high costs and an 8.8% unemployment still push the Big Apple into the ranks of the overpriced elite. Between LA and NYC were Chicago at No. 2 and Miami at No. 3. Providence, RI rounded out the top 5, proving that size does not necessarily matter (at least in this survey).
Here's how the top ten shook out (Click here for the full list, in slide-show form):
1. Los Angeles, CA
2. Chicago, IL
3. Miami, FL
4. New York, NY
5. Providence, RI
6. Riverside, CA
7. Long Island, NY
8. Cleveland, OH
9 (tie). Newark, NJ
9 (tie). San Diego, CA
North Carolina doesn't sound so unappealing today, now does it?
The Most Overpriced Cities in America [ABC News]
--Posted by Steven Schiff, Assistant Producer Vault.com
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