Wednesday, March 30, 2005

Property Boom Turns Communities Upside Down

Mr. Mark Young writes to us from Lake Okeechobee of a life style being undone by the housing bubble. "There existed sleepy little patches of paradise where a young family could look forward to owning their home and raising a family with somewhat financial security."

"The fairy tale may well be over, as the realities of the real estate boom invades every corner of every state."

"Working families with the average median income in outlying areas of West Palm Beach are already finding that they cannot afford a $200,000 home. Laura Smith of Dyess Realty 'How long before it gets to us,' she asked? 'It's pretty much happening now. It's just going absolutely crazy.'"


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