Friday, August 29, 2008

Rusty Crane

No, this is not the name of a past-his-prime porn star. Instead it is a description of the Miami skyline. We've all read how the Miami residential market was the first to overheat from the recent bust of the real estate bubble.

It is hard to understand the gravity of the situation until you are in here in person. From the balcony of my hotel room I can see across the bay into the downtown. The skyline is dotted with building cranes that are stationary. At night, is is even worse as all you see are dark silouettes of the high-rise buildings.

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