The Real Deal Miami

Florida looks to post-bust economy

August 17, 2009 12:20PM

After another cycle of over-development and an economic crash with devastating consequences, Florida’s leaders and citizens are trying to figure out what comes next, and they don’t want another version of business as usual. Real estate and fast money shaped the state’s 20th-century development, and construction has played a much larger role in the economy than in many other parts of the country. As that’s ground to a halt, developers, community advocates, politicians and business leaders debate the future, with some saying the cycle can resume. Others point to the sobering numbers: In the first six months of this year, 268,064 properties in Florida received a foreclosure filing, up nearly 42 percent from the first half of 2008, and many say a new approach is needed.