Future shock: Central Florida markets will fall (CNNMoney.com)

[Ron Burgundy]

A tidal wave of foreclosures may be heading toward Florida, if you judge by the number of homeowners looking to get rid of their homes as fast as they can.

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[florida man]

I am a broker who lives and works in central florida.

This aint news to me. We have taken a 15% decrease here. Every 3rd house is for sale. Aint life grand?

[Erik]

The big question is whether or not it gets any worse.... is this the beginning of the credit bubble bursting or is it a minor market correction that is winding down?

[florida man]

Erik

I believe its going to get a lot worse down here before it gets better. It has everything to do with investors overbuilding, and realtors dumping prices trying to sell houses.

Now, nothing is selling, unless its for 65% of the appraised value. Realtor could care less though.

High property taxes and home insurance dont make it very easy to purchase a house down here. Its all going to crash and get built back up again.

I dont think it will be as severe in the rest of the country, except california.