Brutal. CNBC and the WSJ have been highlighting the plight of former Madoff investors. There are some recurring themes: 1) formerly very wealthy, 2) had almost all of their liquid assets invested with Madoff, 3) left with minimal cash in the bank and their home and 4) forced to sell home in absolutely horrendous market. Between overbuilding, exodus of speculators, severe downturn in worldwide economy, Madoff/Stanford fraud losses and inability to insure some properties, FL home prices have gone into free fall.
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