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South Florida

Vulture fund activity gathering momentum

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From the September issue: Distressed property investment has
picked up sharply in South Florida as residential real estate prices
continue to drop, and now have declined about 30 percent from the peak
years of 2005 to 2006. Experts say the party in vulture investing is
just getting started. In the last year, sales of residential assets and
loans have reached about $1 billion, said Jack McCabe, who heads McCabe
Research & Consulting in Deerfield Beach.