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CAPE CORAL COLLAPSE
For Sale signs plaster Florida's foreclosure capital. Home prices have plunged so low that bargain hunters are on the prowl.
St. Petersburg Times - St. Petersburg, Fla.
Author: SUSAN TAYLOR MARTIN
Date: Aug 4, 2008
Start Page: A.1
Section: NATIONAL
Abstract (Document Summary)

As the minibus swings into the driveway, Janet Kenyon takes one look at the new three-bedroom, two-bath house and lets out a shriek. "Oh, my God. I hate yellow!" The house is indeed very yellow, but the hour is getting late and Kenyon and husband [Blu Kenyon] have yet to see any place they really, really like. So they head inside to a pleasant surprise. "Aw, this is nice," she coos, stroking the faux granite countertops. "Sweet, isn't it?" he agrees, exploring a custom walk-in closet. Best of all, the price: $103,000.

"There's always a wisdom in maintaining a sense of cautious optimism," said City Manager Terry Stewart. "You obviously don't want to go off the deep end and say some of the positive things you see happening are absolutely going to continue."

"Prices didn't make sense anymore," [Suzanne Sherer] said. "Anytime a market is driven solely by investors, it can't sustain itself."

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