Map of Misery USA

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When I was driving through Florida, I was astounded by the number of 'for sale' signs throughout the state. Very few in Palm Beach though. However the real winner for real estate disaster is California with Salinas winning thanks to over 40% of re-financed mortgages.

Opps.

I was speaking to my real estate guys in New York and the Hamptons and they said business was non-existent.

"Only those with small monthly nuts will survive." one broker said who owns his house in the Hamptons straight out.

Chaos extraordinaire.