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Housing Bubble and Real Estate Market Tracker [View article]
<blockquote>
<b>Miami Condo Glut Pushes Florida's Economy to Brink of Recession</b>
In the middle of the biggest glut of condominiums in more than 30 years, Miami developers keep on building.
The oversupply will force prices down as much as 30 percent, the worst decline since the 1970s, and help push Florida's economy into recession as early as October, said Mark Zandi, chief economist at West Chester, Pennsylvania-based Moody's Economy.com, who owns a home in Vero Beach, Florida...
</blockquote>
Source:
www.bloomberg.com/apps...;sid=a4qa.rYTWyYA&...