Working in the insurance industry, I've heard for years how there has been a frightening amount of over building along the Florida coast. Now that the housing bubble is bursting, home values are plummeting... Tax rolls for Florida are not going to be pretty in 2009, and I wonder how many governments will go bankrupt..
There are tons of listings in Detroit for homes where the price tag is less than $10,000 (that is not a typo). Here's one: http://www.realtor.com/search/listingdetail.aspx?pg=103&srcnt=1108&sid=cd7f0921a98c4f75ab5ca2d3144355e3&fhcnt=18&loc=detroit%2c+michigan&usrloc=detroit%2c+michigan&bd=4&bth=4&typ=1&ml=8&fhpg=3&lid=1105962986&lsn=1026
Will Florida be left to decay until hurricanes come along and take care of the over building?
The economy is scaring me, and I am anticipating a depression...
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