Friday, October 1, 2010

Why Obama loses Florida in 2012

Housing values crashed. Renting became more popular. Much of the population slipped a rung down the wealth ladder. And Miami seems to be booming.

A deluge of Census data released Tuesday crystalized some of the trends under way as South Florida reckons with a wrenching economic downturn, a tepid recovery and a transformed real estate market. One side effect: Thousands of cheap urban condos built during the boom are now attracting renters and bargain hunters. The city of Miami, the center of the nation's condo building binge, saw its population surge 25 percent this year to about 433,000, according to the numbers.

"Much of the population slipped a rung down the wealth ladder", and people who sold or bought $400,000+ condos are now renting them out for $1200 per month.

These were youngish upwardly mobile upper middle class Obama voters.

After what they've been through, they're not going to vote to reelect anyone until they get their money back.

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