The Real Deal Miami

Wells Fargo: foreclosures still hurt SF

September 16, 2011 09:43AM

Florida’s economy is not in a gloom-and-doom scenario and won’t fall
into a recession, but foreclosures are still devastating the state,
according to a report from Wells Fargo. “Florida is slowly battling back
from its worst recession in modern times,” the report said. According
to the company, almost 40 percent of South Florida’s mortgages are in
foreclosure or more than 90 days delinquent, vastly higher than the
national average of 11 percent. [Miami
Herald]