The unemployment rate in Florida is 5.5%. The new numbers will be out July 30th and the rate is expected to be higher.
Home construction is down and that is a lot of workers not working.
A lot of people were buying houses and condos as investments and hoping to “flip” the house or condo for a profit. Many of those people are just walking away from the deals.
There are abandoned building projects all across Florida.
“…Abandoned building projects have spread across Florida like wind-borne blight. Thousands of unfinished, unsightly, weed-infested projects have been dormant and rotting for more than a year. Swarms of real estate speculators have given way to swarms of mosquitoes that breed in algae-clogged swimming pools…”
MiamiHerald.Com by Fred Grimm
The MiamiHerald.Com has a story on “Borrowers Betrayed.” It is a hell of a story and I bet the Miami Herald wins awards for the story. Check it out. It is three parts and Part 1 is “The Brokers” and it is out now. The other two parts will be “The Originators” and “The Probe.”
Florida, and the nation, is hurting. Miami is hurting bad and I think this is just the tip of iceberg.
There are money problems here in this area now big time.
The Miami-Dade school district went $66.5 million over-budget. Florida law mandates that a school district operate with a balanced budget.
What if this year we get hit with a major hurricane?
I love Florida. I like the Miami area. There are wide white sand beaches. All sorts of events going on all the time. It is never cold. People have never seen ice and snow here. I do not own a coat.
There is no state income tax in Florida.
I think I would like the Titusville, Tampa or Merritt Island are better than Miami. I think Miami has some problems.
I think Rep. Tom Tancredo (R-Colorado) was correct when he said that Miami resembled “a Third World country.” (Tancredo is a right wing Republican. I do not often agree with Republicans.)
Some people will say that Miami has diversity. I do not see much diversity. I hear people speaking Spanish. I may just need to live in some other part of FL.
