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.)


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