South Florida. “Mountains of homes” for sale
Thu Feb 22 2007 12:23 am
by Bob Morris.
This bubble done popped. Average time to sell for houses in South Florida is upwards of 16 months. For condos, it’s a jaw-dropping two years. Plus, 11,500 new condos are coming this year with 15,000 more next year.
The vultures are waiting.
Yet another example of the boom and bust nature of capitalism where the rich get richer, often by feeding on the carrion of the poor.
Posted in: Unfiled.
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