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Misery in Miami: Forbes ranks the Magic City 2nd most miserable

There is no question that Miami has high unemployment and foreclosure rates. Now, those two issues have led Forbes.com to name Miami as the second most miserable city in the United States.

The Misery Index (which does really exist) looks at many factors, including home prices, foreclosure rates, unemployment and even the local sports team's record. Last year, Forbes.com listed Miami as the sixth most miserable city. This year, we moved up on that list, but managed to avoid the top spot.

Instead, Stockton, California, was listed as the most miserable city for the second year running. According to Forbes.com, "The good weather and lack of state income tax" were our saving grace. But for those two factors, Miami would have come in as the number one most miserable city in America.

NBC Miami speculated that in addition to high unemployment and our foreclosure problems, the crime rate and unscrupulous politicians accounted for Miami's second spot ranking. The financial struggles related to the unemployment and foreclosure issues certainly contribute to the unhappiness seen in Miami.

Unemployment and foreclosure may be two of the primary sources of discontent here, but they are not unsolvable problems. Solutions do exist for individuals who are facing mounting debt after being laid off or those who have been threatened with foreclosure. Bankruptcy and other debt relief options can help individuals overcome the emotional and financial struggles related to overwhelming debt.

Source: NBC Miami, "Les Miserables: Miami High On Depressing Cities List," Todd Wright, 2 Feb 2011

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