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Well, your bank account may already know this, but a new Wachovia report says that Florida was hit the hardest by the recession.
Here’s your depressing factoids:
- Florida went into recession nine months ahead of the rest of the country.
- Excess real estate is more abundant then the rest of the country, duh.
- The Unemployment rate in Florida is expted to reach 11%, a total loss of 720,000 jobs.
- Net household wealth dropped by $1.2 trillion, with 2/3 of that coming from financial assets.
Basically, all this means our road to recovery is going to be a lot longer, and a lot bumpier than the rest of the country. If ever there was a time to move, it’s probably now.
[JBJ: Wachovia report: Florida hit harder by recession]
