Pine Bluff Arkansas Declared Credit Card Debt Capital of America
Forbes declared Pine Bluff, Arkansas, the city in the United States with the most delinquent credit cards in its recent article, The Debt Capitals of America. The delinquency rate of 2.28 percent in Pine Bluff is nearly double the national average of credit card delinquencies of 1.19 percent.
One of the sad parts of Forbes’ list of the cities in the United States with the most debt is that the city with the most delinquent credit cards didn’t even make the list of the top ten cities with the most debt problems. The statistics of these cities are even more staggering than unpaid credit cards:
- Nearly 1 out of 11 homeowners is more than 60 days behind on their mortgage in Laredo, California.
- Home prices have fallen more than 40% in two years in Modesto, California.
- The unemployment rate in California is 7.3 percent, while some cities in Cali have an unemployment rate over 11 percent.
Only a short while ago, this would have been a list of the fastest growing cities with the best real estate home price growth. Now, it is the list of Forbes’ Debt Capitals of the United States:
10. Visalia, California
9. Miami, Florida
8. Las Vegas, Nevada
7. Yuba City, California (12.2% unemployment)
6. Fresno, California
5. Bakersfield, California
4. Modesto, California
3. Stockton, California ( 1 out of every 30 homes foreclosed on in 2007)
2. Merced, California (12.1% unemployment)
1. Laredo, Texas (second fastest growing city in the nation behind Las Vegas in the 2000 census)
