By Ed Barrena
November 9, 2015 (San Diego)--San Diego is the worst major metropolitan area to build wealth, according to a report by financial website Bankrate.com. The findings may not be entirely surprising to residents of San Diego, where rent and mortgages continue to climb and wages remain fairly stagnant.
The report was based on several factors including: savable income after taxes, the job market, the housing market, educational opportunities, participation in retirement plans, and access to financial services.
The city ranked dead last out of 18 major metropolitan areas, lower than Los Angeles, New York and San Francisco. Houston, Texas came in at number one.
According to the report, San Diego ranks so low due to unemployment in the region, residents average debt burden, and relatively low savable income after taxes.