TALLAHASSEE, Fla. (AP) – Aug. 7, 2008 – The values of homes, businesses and other properties across Florida declined $153 billion during the last year, and the murky economic picture isn’t expected to improve until sometime in 2009, state officials said.
Total property values dropped an unprecedented 6 percent, double the figure economists had projected last year. The decline would have been worse if not for $55.6 billion spent on new construction, according to data reported by The Miami Herald in its Wednesday editions. The rest of the story...
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