South Florida's real estate market may have hit bottom

09/4/2008 | Bloomberg

South Florida's real estate market may have hit bottom. Vulture funds, which have $30 billion to buy the troubled properties, have begun making purchases. Last month, a Philadelphia private-equity firm and Related Group of Florida bought 120 condominiums, breaking "the logjam" of oversupply, according to Peter Zalewski, owner of Condo Vultures LLC.

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