If you are looking for a bargain, you can’t wrong shopping for a home in South Florida. The New York Times has a lengthy piece about the significant downturn in housing prices in the area. One home suffered a drop from $979,000 to $599,000 in two years and it still doesn’t have a buyer. Previously owned homes in the Miami area have fallen in price by 28 percent over the past year, the biggest decline after to Las Vegas. “There’s just too much on the market,” said one frustrated homeowner looking to sell.
Credit: NY Times article