The Volokh Conspiracy - South Florida--Ground Zero of the Housing Bust:

Palm Beach County has an amazing forty-nine months worth of housing inventory for sale.

In August, WCI Communities, a luxury builder with much of its business in South Florida, reported that net condo sales were down 88% from a year earlier. (I think there's been an even worse report since then, but I can't find a link.)

Wow!

But perhaps not too surprising for South Florida, perhaps the most speculator-dominated market in the country, and the birthplace of "condoflip.com" in the Summer of 2005, which I presciently called a "sign of the housing apocalypse."

	[David Bernstein, October 26, 2006 at 2:40pm] Trackbacks South Florida--Ground Zero of the Housing Bust: Palm Beach County has an amazing forty-nine months worth of housing inventory for sale. In August, WCI Communities, a luxury builder with much of its business in South Florida, reported that net condo sales were down 88% from a year earlier. (I think there's been an even worse report since then, but I can't find a link.) Wow! But perhaps not too surprising for South Florida, perhaps the most speculator-dominated market in the country, and the birthplace of "condoflip.com" in the Summer of 2005, which I presciently called a "sign of the housing apocalypse."