Miami Condo Glut Pushes Florida's Economy to Brink of Recession

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, who owns a home in Vero Beach, Florida. BLOOMBERG

Fort Lauderdale's Las Olas Centre sold

South Florida's No. 1 — in cost-of-living increase

Florida jobless rate up due to housing slowdown

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