Word: florida
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...When Florida legislators recently struggled to balance the battered state budget, they decided to plug holes with $190 million from a $300 million affordable-housing trust fund. After all, why should a cash-strapped state shell out money for new home construction when there are tons of vacant homes just waiting to be snapped up? One of the few benefits of a housing crash, theoretically at least, is supposed to be that home buyers who were previously priced out of the market might finally be able to afford a place of their...
...that's certainly not the way it's working in Florida, one of the states hardest hit by the foreclosure crisis. Even as a backlog of hundreds of thousands of newly built and foreclosed homes are languishing on the moribund housing market, more than 750,000 families are in need of affordable housing. Some low-income residents are finding fire-sale deals, but many more are not; just this past weekend, Fort Lauderdale police had to be called in for crowd control when 5,000 people lined up to get on a waiting list for subsidized housing. (See 25 people...
...fact is, most of the Floridians seeking affordable housing still can't muster the means, credit history or job security to land a mortgage - even for a $100,000 fixer-upper - especially with lending requirements tightening in the wake of the subprime catastrophe. This is, after all, low-wage Florida: housing costs may be falling - in exorbitant South Florida, they've tumbled 45% since the median cost peaked at $375,000 two years ago - but take-home pay isn't rising. Unemployment, in fact, is at 8.1%, Florida's highest level in two decades...
...state to become a big leaguer. He attended Stanford University and made his major league debut with Texas only two years after the Rangers selected him with a second round pick in the 1992 draft. He pitched decently for both the Rangers and Marlins (he was once traded to Florida and back within 11 months) before committing himself to a strenuous conditioning and fitness program after the 1997 season. In 1998, his first full year as a starting pitcher, he won 20 games. He would pitch 12 seasons in the majors, compiling a record of 93-81 while earning more...
Cincinnati, Outbound. Delta is slashing fares out of its Cincinnati hub on 21-day advance purchases to cities in Florida, the Northeast and the West Coast, with discounts of up to 58% compared with 2008 rates. Fares to L.A. are going for $130 each way, down from $310 last year, or to Boston for $152 each way, down from...