The Real Deal Miami

Banks repossess 4,000 SF white;

July 14, 2010 10:30AM

Banks repossessed an average of 4,000 South Florida properties each
month in the first six months of 2010, according to a new report from
Condo Vultures. The number represents an 83 percent year-over-year
increase the same period in 2009. Miami-Dade County saw the biggest
jump, a 125 percent increase in repossessions. At the current pace,
nearly 50,000 properties could be repossessed in the tri-county area.
Last year, 30,400 properties were repossessed in South Florida,
according to the report. TRD