Builders Actually Started Work on Two Condos This Year

The Christian Science Monitor is the latest in a long, distinguished line of national media outlets that have come to South Florida to report on our very busted housing bubble. This story reports on day laborers, who are just about nonexistent at the places where contractors, who are out of work themselves, used to pick them up.

The CSM's story had a pretty stark reminder of the state of the housing industry:

Broward County alone saw just two condo units and 17 single-family homes get under way in the first three months of the year. In neighboring Miami-Dade County, work was launched on just 43 single-family homes - less than one twenty-fifth of the pace set prior to the housing boom.

That's right. Work began on just two condos in three months. And really, what's probably most surprising about that figure is that work actually began on two condos at all.