Florida's retail property owners hit hard by downturn

08/10/2009 | Hernando Today (Fla.)

In parts of Florida, commercial property owners have begun following the pattern set by home owners in distress. Particularly among retail property owners, many have stopped making mortgage payments instead of delaying their inevitable financial collapse, experts said. "We got overheated," said Scott Clandening, president of the Florida Gulf Coast Commercial Association of Realtors. "We don't have 1,000 people a day moving into Florida any more."

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Hernando Today (Fla.)

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