Hole in the Clouds

Once and Future Florida

Feb 2, 2011

 This is a picture of a real estate bubble. There have been land bubbles in Florida since forever; what we're looking at here is just the bubble du jour, a subdivision near Fort Myers, on the Gulf Coast, where the developer put in the roads and the "lake" and the cul de sacs and managed to build two houses complete with swimming pools before it was all over.

I read today that 11 per cent of the housing units in the United States are currently unoccupied. So it's really over. For a while.

birdseye view   construction   (h/t:The Big Picture at boston.com)   Florida   economics   sprawl   Fort Myers   (Image credit: Florida Dept. of Environmental Protection)