Thursday, September 07, 2006

The Extremist: The Madness of Crowds

Hal O'Boyle (The Extremist: The Madness of Crowds), blogging from Costa Rica, shows that he is paying attention to things at home in Key West. He writes here about the real estate market. Money quote:

There are currently 832 Key West residential properties listed with members of the Key West Association of Realtors. Last month there were eleven sales. That works out to 75.6 months of inventory. As recently as 2005 that figure was under six months.

With over ten times the national inventory to unload, even Alan Greenspan, the original party animal, couldn?t keep this soiree going.
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