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South Florida

S. Florida home values to drop through 2010

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A combination of high foreclosure rates and rising unemployment likely
mean Miami-Dade, Broward and Palm Beach counties will see home
values drop for two more years, according to PMI Mortgage Insurance. David
Berson, the company’s chief economist, said the three counties are near
the top of the list of sales areas where home values are likely to be lower in the third quarter of 2010 compared to the same period in 2008.