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==History== [[File:Merced CA Historic Courthouse1.jpg|thumb|left|The historic [[Merced County Courthouse]], built in 1875.]] [[File:Merced Union High (original Spanish Colonial Revival campus) (cropped).jpg|thumb|left|The original [[Spanish Colonial Revival|Spanish Revival]] style [[Merced High School]], demolished 1974]] [[File:US Post Office Merced (cropped).jpg|thumb|left|The [[United States Post Office (Merced, California)|Merced Post Office]] was built in 1933 in a [[Spanish Colonial Revival style]] by architects [[Allison & Allison]].]] The first Merced post office opened in 1870.<ref name="CGN">{{California's Geographic Names|801}}</ref> Merced incorporated in 1889<ref name="CGN" /> and now operates under the [[Council–manager government|council-manager]] form of government. During [[World War II]], the [[Merced County fairgrounds]] were the site of a temporary "[[Internment of Japanese Americans#WCCA Civilian Assembly Centers|assembly center]]" where Japanese Americans were detained after being [[Internment of Japanese Americans|removed]] from their West Coast homes under [[Executive Order 9066]]. 4,669 men, women and children from central [[California]] (with most coming from Merced County) were confined in the Merced Assembly Center from May 6 to September 15, 1942, when they were transferred to the more permanent [[Granada War Relocation Center|Granada]] internment camp in Colorado.<ref>Iwata, Adrienne. [http://encyclopedia.densho.org/Merced%20%28detention%20facility%29/ "Merced (detention facility)"] ''Densho Encyclopedia'' (accessed June 17, 2014).</ref> Since 2005, Merced has been home to the University of California, Merced. Historic cultural attractions in the city include [[The Mainzer]] Theater which is known for its historic and architectural value, the [[Merced County Courthouse|County Courthouse Museum]] {{circa|1889}}, the Merced Multicultural Arts Center and the [[:Commons:Category:Merced, CA, County Library|County Library]]. Also within a short distance from the city limits are the [[Castle Air Museum]], [[Lake Yosemite]], and Merced Falls. The city of Merced along with its surrounding cities are serviced by the ''[[Merced Sun-Star]]'' and the ''[[Merced County Times]]''. The ''[[Merced Sun-Star]]'' daily newspaper has a circulation of 14,219 daily and 18,569 Saturday in the Merced area. The paper was sold to U.S. Media in 1985 and was acquired by The McClatchy Company in January 2004.<ref>{{Cite web|title=Merced Sun Star|url=https://www.mercedsunstar.com/customer-service/about-us/|website=Mercedsunstar.com}}</ref> [[File:Bob Hart Square clock3.jpg|thumb|left|Bob Hart Square]] [[File:Main Street Merced.JPG|thumb|250px|Main Street in Merced, California]] Homes at the median level in Merced had lost 62% of their value from the second quarter of 2006, when they peaked at $336,743, the biggest drop anywhere in the country. Home prices have since rebounded, with the median sale price in April 2018 at $247,000.<ref>{{cite web |url=http://www.realtor.com/local/Merced_CA |title=Merced, CA Housing Market |publisher= Realtor.com |date=April 17, 2018 |access-date= May 31, 2018}}</ref> The current average being $358,000.<ref>{{Cite web|title=Merced current real estate prices|url=https://www.redfin.com/city/11970/CA/Merced/housing-market}}</ref> Terry Ruscoe of Merced-Yosemite Realty, noted investors from outside of the Valley were helping to drive up home prices. Ruscoe said, "A tremendous amount of out-of-town buyers. Our primary client comes from the LA area or the Bay Area. We see a lot of them coming in and buying properties, even coming in now when the prices are moving up quickly because they know they can rent those."<ref>{{Cite web|last=Yurong|first=Dale|date=October 7, 2021|title=Housing Watch: Merced home prices hit all-time high|url=https://abc30.com/merced-market-house-housing/11091538/|access-date=January 20, 2022|website=ABC30 Fresno|language=en}}</ref> The metro area went to a 14.2% unemployment rate in December 2013. Having since recovered to a rate of 8.7% in April 2018. Some efforts have been directed towards diversifying its economy and are showing a lowering trend in the overall unemployment rate,<ref>{{cite web |url=http://www.bls.gov/eag/eag.ca_merced_msa.htm |title=Merced, CA Economy at a Glance |publisher=Bureau of Labor Statistics |date=April 15, 2018 |access-date= May 31, 2018}}</ref> according to the [[Bureau of Labor Statistics]]. [[File:Cinema, Merced, California LCCN2017707842.tif|thumb|Cinema, Merced, California; photographed by [[John Margolies]] in 2003]] During the [[Great Recession]] Merced suffered one of the greatest property price collapses in the country and house prices at the end of 2009 had fallen to 1998 levels, according to [[Zillow]], making housing affordable compared to many other California locations. The economy has traditionally relied upon [[agribusiness]] and upon the presence of [[Castle Air Force Base]]. Over the past twenty years, more diversified industry has entered the area, including printing, fiberglass boat building, warehousing and distribution, and packaging industries. In September 1995, Castle Air Force Base closed after phasing down over the previous three years. This affected residential real estate and some sectors of the retail and service economies, but overall retail continued to increase. Industrial development is increasing in the area. It is now known as the [[Castle Airport|Castle Airport Aviation and Development Center]]. The Castle Air Museum remains at the site.
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