If you want to see the madness and the grisly aftermath of the U.S. housing boom and bust, look at Florida. It’s not alone. Vegas, Phoenix, San Diego, Detroit — they’ve all got horror-story numbers now. But the biggest home price drops in the country were in Miami last year.
Empty condos, collapsing values. The heart of the Florida meltdown — in Miami, the southwest, the Gulf Coast — could be Exhibit A for what went wrong in American real estate.
The condo vultures are out now. And there’s a story to tell.
This hour, On Point: Florida real estate, and the great American meltdown.
-Tom Ashbrook
Guests:
Wayne Archer, executive director of the Bergstrom Center for Real Estate Studies at the University of Florida.
Peter Zalewski, founder of Condo Vultures, a real estate investment consulting firm.
Mike Larson, real estate analyst for Weiss Research.
Susan MacManus, professor of political science at University of South Florida.
Tags: economics, housing market
Dr. Archer is amazing in his past inaccuracies.
This man published numerous articles in 2007 about the bright future of Florida real estate.
He appears to have been quite mistaken.
Posted by Jeremy Grantham, on October 11th, 2008 at 4:49 pm EDT