From The Big Picture:
A couple weeks ago, I was listening to a story by NPR’s Planet Money team about “Toxie” a toxic asset they had purchased to follow and help tell the story of the recent financial meltdown. One of the mortgages in Toxie was on a home bought for investment in Bradenton, Florida, and the team took a look at housing in the area. Many homes there are empty and have been for years. Huge developments sit partially completed among densely built up neighborhoods and swampland. A guest stated that there were “enough housing lots in Charlotte County to last for more than 100 years”. Boom and bust residential development has drastically affected parts of southwest Florida for decades now, and I spent some time (with the help of Google Earth), looking around the area.