The Real Deal Miami

State recession nears end

June 17, 2009 10:55AM

South Florida got a bigger dose of recession than the rest of the country, and now may be pulling out of it. But the state has been scarred. The Brookings Institution, an influential think tank, still ranks the region 85th of 100 metropolitan areas in terms of overall economic performance. Foreclosure rates are a major consideration in the Brookings criteria. The drop in real estate prices makes it difficult to expect federal aid to assist homeowners whose mortgages are underwater. Report coauthor Alan Berube said the Miami area may be hitting a peak on unemployment rates.