Los Angeles Named “Most Overpriced City” in U.S.

Los Angeles area as seen from Mt. Wilson
Los Angeles area as seen from Mt. Wilson

Forbes.com has published a list of the 20 most overpriced cities in the United States, and, perhaps to the surprise of few, Los Angeles tops the list. According to Forbes, “earnings potential and living expenses,” including salary information, unemployment figures, the cost of living, and the Housing Opportunity Index, were all examined in compiling its list. Forbes cited a 10.3% unemployment rate in Los Angeles, as well as a housing bust in construction and sales that is made worse by the fact that home prices here are still among the highest in the nation.

Number 2 on the Forbes.com list was Chicago, which, ironically, was named the best city in the world to live in by Askmen.com just over a month ago.  In Askmen’s survey, a city was presumably considered most “livable” when it had the lowest cost of living.  Is it possible that someone is using less than scientific survey methods?  Ya think?

However, things could be worse for Angelenos.  Would you rather be living in Providence, R.I. (number 5) or Cleveland, OH (number 8)?  I’m just sayin’.

10 Replies to “Los Angeles Named “Most Overpriced City” in U.S.”

  1. Not a list I’m particularly pleased to be at the top of. On the other hand, I’m sure as hell not moving to Cleveland in order to move down on the list. Life is often about compromise.

  2. My guess would be having a succession of Democratic tax and spend mayors for the last 8 years.

  3. @Victoria — according to the article, NYC still came in fourth, but its very high cost of living was somewhat offset by its very high salaries. I’m sure all those Wall Stree bonuses helped!

    @UA — I think you may be oversimplifying things a bit, based on an existing frame. If the pols were largely responsible for salaries and living (including housing) costs, then surely Republican Governor Schwarzenegger could have fixed things in Los Angeles by now.

  4. Republican Governor?

    Perhaps in an alternate universe.

    Frankly, I owe Gray Davis a dozen roses, box of chocolates and big fat apology.

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