Florida hit by 'worst real estate crisis in decades'

[Mejappz]

Don't doubt me. It's just the beginning.

Florida condo owners are slashing prices by up to 40 percent as they strive to dodge massive incoming repair costs.

Some units have had almost half a million wiped off their asking price as safety fears trigger a wave of sell offs in what realtors have described as the worst real estate crisis in decades.

MSN

 

[Mejappz]

The GSEs better start to bleach bit their servers.

 

[Mark K]

Sold Mom's house in Pt. Charlotte last fall after she passed. Glad we got rid of it; prices are falling. I was surfing thru real estate listings the other day and noticed some of the older condos' prices have dropped significantly in the past year. Time to pay the piper.

 

[ucbruin]

Well the good news....
LLWS Champs....

 

[Tom D]

It could be worse.
1900 Galveston--A damaged street in the aftermath of the Great Galveston Hurricane, in Galveston, Texas, U.S., October 13, 1900. The deadliest hurricane in U.S. history hit Galveston as a Category 4 storm and seas 20 feet above normal. An estimated 8,000 to 12,000 people died, mostly in the Galveston area, and damage was estimated at $30 million.
1935 Labor Day Hurricane--A rescue train is pictured washed off its tracks in the aftermath of the 1935 Florida Keys Labor Day Hurricane, in the Florida Keys, Florida, U.S. in this September 5, 1935 photo. The small storm struck the Florida Keys with 185-mph winds and a 20-foot storm surge. The combination killed 408 people, primarily World War I veterans who were working in construction in the area, according to the National Oceanic and Atmospheric Administration.

 

[Mark K]

It could be worse.
1900 Galveston--A damaged street in the aftermath of the Great Galveston Hurricane, in Galveston, Texas, U.S., October 13, 1900. The deadliest hurricane in U.S. history hit Galveston as a Category 4 storm and seas 20 feet above normal. An estimated 8,000 to 12,000 people died, mostly in the Galveston area, and damage was estimated at $30 million.

Excellent book about this hurricane.

Isaac's Storm - Erik Larson

At the turn of the last century, Isaac Cline, chief weatherman for Texas, believed no storm could do serious harm to the city of Galveston, a fast growing metropolis on the Gulf Coast destined for great things. In September 1900 a massive hurricane proved him wrong, at great personal cost. The...

eriklarsonbooks.com

 

[Terrel L. Shields]

Excellent book about this hurricane.

Isaac's Storm - Erik Larson

At the turn of the last century, Isaac Cline, chief weatherman for Texas, believed no storm could do serious harm to the city of Galveston, a fast growing metropolis on the Gulf Coast destined for great things. In September 1900 a massive hurricane proved him wrong, at great personal cost. The...

eriklarsonbooks.com

Read it. The old priests in Havana who ran the weather station there, read it correctly and DC pooh-poohed it claiming it would curve north over Florida as a harmless sub-tropical storm. Boy, were they wrong.