A decade ago, speculators in Florida were pumping up a huge housing bubble.
"You couldn't go wrong," Tampa real estate attorney Charlie Hounchell says. In that overheated period from 2001 to 2006, "you could buy a house and make $100,000 a year later by selling it," he says.
But the party ended in 2007 and the hangover persists. The state now has the highest foreclosure rate in the country, beating out Nevada for the first time in five years.
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