...Report Overview: Cities across the U.S. were affected by The Great Recession in different ways. This report explores a cross section of American cities and, using a number of financial and economic metrics to rank each city, identifies three cities that have performed well economically and financially during and after the recession as well as three cities that have struggled to recover, either economically, financially or both. Housing Crisis Causes Unprecedented Problems: This recession had a particularly severe impact on American cities. Generally, during recessionary periods, a city's most common main revenue source, property tax, remains relatively stable. However, this recession hit cities from all sides. Reduced consumer spending and income negatively affected sales and income tax collections, as is expected during recessionary periods. Much less characteristic was the magnitude of the negative impact on property tax bases brought on by the crisis in the housing market. Revenue and...
