Saturday, April 08, 2006

Miami Housing Fueled an Explosion of Jobs

Now, home prices are settling down. They have soared an average of 110 percent in Miami-Dade and Broward counties since 2000. Prices are expected to rise this year, but by only 5 percent to 10 percent.

The jobs, wealth and consumer spending tied to real estate will slow as well. Still, a housing market slowdown is likely to simply cool South Florida's red-hot economy rather than plunge it into recession.

No industry is more directly tied to the real estate boom than construction. Those jobs alone accounted for 10 percent of Florida's record job growth last year.

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