Why not to buy in Florida...yet

Got a few emails to elaborate why I think buying in Florida is crap. Here is a great analysis by Ryan Swift see here ...a whole set of people in Florida will have their mortgages reset to a higher interest rate with negative equity (over 30%). This doesn't even count the shadow inventory where most subdivisions have a few abandoned houses that the bank hasn't got to.

Why do I think they're over priced? Because savvy real estate agents build relationships with the banks to get them at a discounted priced which they will then flip off to Canadians at a higher price. Watch for the poop storm to continue