The Real Deal Miami

More mortgage trouble looms

December 18, 2008 11:11AM

A recent 60 Minutes report said Miami-Dade County will be ground zero
for another wave of residential mortgage trouble, and dubbed the area
the Repo Riviera. The piece featured repo man Oscar Munoz, who said he
clears out 20 to 30 foreclosed homes each day. Analyst Sean Egan said
the current oversupply of housing could take five years to be
eliminated.