"History is a wonderful thing, if only it was true"

Tuesday, February 10, 2009

Congnative Dissonance... cont

The next Presidential trip - to Fort Myers - near Leigh Acres ...

Rather than a more typical Middle American region, let's pick an area that exemplifies the "irrational exuberance" of sunbelt real estate.

Just what needs to be saved...

In Florida, Despair and Foreclosures - NYTimes.com:

"By 2000, the lots had been sold, but most stayed empty. Only about 30,000 people were living in an area roughly four times the size of Manhattan. The builders really started to arrive in 2004, setting up model homes on Lee Boulevard next to Mr. Elliott’s office with the faded wooden sign that said “$50 lots.”

Bill Spikowski, a city planning consultant in Fort Myers, said that because Lehigh Acres had so many parcels and few restrictions on what could be built, smaller companies battled for customers. From 2004 to the end of 2006, developers completed 13,183 units in Lehigh Acres — nearly doubling the total stock of 15,216 that existed in 2000, according to Lee County figures."

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