Report: Floridians Hit Hard by Recession; Lost $1.2 Trillion in Household Wealth
Categories: Recessionomics
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| via Josie B's flickr |
| It's hard to illustrate these type stories, but this seems appropriately depressing. It's more of a mood pic. |
Here's your depressing factoids:
- Florida went into recession nine months ahead of the rest of the country.
- Excess real estate is more abundant then the rest of the country, duh.
- The Unemployment rate in Florida is expted to reach 11%, a total loss of 720,000 jobs.
- Net household wealth dropped by $1.2 trillion, with 2/3 of that coming from financial assets.
Basically, all this means our road to recovery is going to be a lot longer, and a lot bumpier than the rest of the country. If ever there was a time to move, it's probably now.
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