Miami-Dade’s far southern suburbs, hit hard by foreclosure, are now
home to low prices and low occupancy. Property costs in Homestead,
Florida City and neighboring incorporated areas are down 53 percent
over the past 12 months, worse than the 30 percent drop seen in central
Miami and the Brickell district. There’s more inventory, too. At the
end of March, there were 65 percent more houses on the market in the
southern fringes than in the city core, said real estate analyst Craig
Werley. [more]