The Real Deal Miami

PBC struggles to rebound

August 26, 2011 09:54AM

The Great Recession has hit Palm Beach County particularly hard, with
$78 billion in real estate in the county having disappeared, along with
93,000 jobs and almost $4 billion in yearly wages. “There is no middle
class any more,” said Monica Clark, who is facing foreclosure and a home
that has seen hundreds of thousands of dollars of value gone. “There’s
the super-rich and the poor.” The value of real estate in Palm Beach
County has fallen by a third since 2006, according to the Palm Beach
County Property Appraiser. [Sun