Thursday, August 16, 2007

"Blood in the water" in Florida property market

..."They're saying that we're heading for a recession but I think we're past that," said Setterlund, referring to the housing glut and its effect across much of south Florida. "I think we're headed more into a depression."

...While business is slow for Grimes and other real estate agents, it has been booming lately for Jonas Elliott, a so-called "short sell" specialist at Southwest Florida Home Buyer Services in Fort Myers.
From Reuters