My realtor sent me pictures of homes for sale in fort myers, and naples florida. an entire block of homes had for sale signs up for months now. What was $400k last spring is now $300, a 25% drop. Problem is most sellers don't realize this is the true price, but won't budge and stubbornly sit on their sell price, which is resulting in an abundance of supply all a sudden. On the flipside, a 180 unit high rise condo in NJ near the city just sold out with the penthouse unit selling for 4 mill. I realize the majority of people who buy in FL are transplanted folks from New York and Jersey. There is some slowing the housing market, but is this divergence a function of the constant barrage of hurricanes or something else? Was FL just a hotspot of price speculation and it is correcting now like speculative nasdaq issues in 2000 while other index like the dow corrected in milder fashion?