Penelope
Diamond Member
- Jul 15, 2014
- 60,260
- 15,767
- 2,210
for importing steal from China.
3. Gary, Indiana
> Vacancy rate: 20.3%
> Vacant properties: 6,505
> 5 yr. population change: -17.9%
> Median home value: $65,500
Once the second largest city in Indiana, Gary is one of many Midwestern towns whose industrial economy has declined as cheap steel from outside of the country reduced demand for U.S. steel. The population has fallen by more than 55% since its 1960 peak. Today, more than one in five homes are vacant, the third largest such share of any city or town in the country. Over the five years ending in 2014, real estate values fell from $69,400 to $65,500. At the same time, poverty also rose from 33.4% to 38.7%, likely hurting area home values. The price of a typical home in Gary fell by 5.6% over the same period. More than one out of every 200 properties are in foreclosure.
3. Gary, Indiana
> Vacancy rate: 20.3%
> Vacant properties: 6,505
> 5 yr. population change: -17.9%
> Median home value: $65,500
Once the second largest city in Indiana, Gary is one of many Midwestern towns whose industrial economy has declined as cheap steel from outside of the country reduced demand for U.S. steel. The population has fallen by more than 55% since its 1960 peak. Today, more than one in five homes are vacant, the third largest such share of any city or town in the country. Over the five years ending in 2014, real estate values fell from $69,400 to $65,500. At the same time, poverty also rose from 33.4% to 38.7%, likely hurting area home values. The price of a typical home in Gary fell by 5.6% over the same period. More than one out of every 200 properties are in foreclosure.
