What you need to know about Florida today
For the first time since 2005, Florida led the nation for foreclosures, according to a report by a real-estate research group that tracks home sales across the country. During the past year, foreclosures dropped 13 percent nationally but increased by more than that amount in Florida. The state had one foreclosure legal filing for every 117 houses during the third quarter — the highest rate in the country and double the rate for the entire nation Read more from the Orlando Sentinel, the Miami Herald, the South Florida Sun-Sentinel, Business Insider, and RealtyTrac.
We all know the middle class counts their pennies, but now their affluent neighbors are doing it too. A new Merrill Lynch survey found that 60 percent of affluent South Floridians are both spending and investing more conservatively then a year ago. Two-thirds of affluent South Floridians say they are gaining greater control over their financial lives and a majority admit to budgeting. More from the South Florida Sun-Sentinel and Merrill Lynch.
Trade groups say the flourishing cruise ship industry injects about $2 billion a year into the economies of the Caribbean, the world’s No. 1 cruise destination. But critics complain it produces relatively little local revenue because so many passengers dine, shop and purchase heavily marked-up shore excursions on the boats or splurge at international chain shops on the piers. [Source: AP]
When the competitive nature that comes with being a successful businessman meets a fantasy football league, watch out. Take, for example:
Michael Kruszynski’s entree into fantasy football came when an old college friend sent him an invitation to play in his league. “I was always competitive and loved sports, with football being my favorite sport,” he says.
» Number of leagues he plays in: Four
» Secondary foul: “One year my boss wanted to play fantasy football. I sent him an invite to join. It was the ESPN league with the automatic draft, so great for a beginner. Three weeks in, his team was 0-3. He asked me to help manage his team, which I did so well that I ended up playing him in the championship, and he won. He spent a good deal of time telling me what a great football mind he had for months after the season ended. I told him he was on his own the next season.”
» Favorite team: Chicago Bears
Two Palm Beach County sugar companies have expanded into Belize in Central America, making it the sixth country outside the U.S. where they own mills and refineries. In a deal that closed last week for a reported $65 million, Florida Crystals Corp., of West Palm Beach, and the Sugar Cane Growers Cooperative of Florida, of Belle Glade, acquired Belize Sugar Industries Ltd. [Source: Palm Beach Post]
ALSO AROUND FLORIDA:
› Miami tourism jolt booked for winter
Greater Miami's tourism industry is expecting to ride a wave of improved business from last summer into the winter season.
› Study: Arts generate $73 million impact on Brevard economy
Sometimes arts and culture might be easy to dismiss but a report released Wednesday evening by Economic Development Commission of Florida’s Space Coast said that sector generated nearly $73 million in local sales last year and were responsible for more than 855 jobs.
› Groups: Bank neglects minority-area houses in Orlando
Two national housing nonprofits on Wednesday complained about deplorable conditions at foreclosed houses in an Orlando minority neighborhood that weren't found as much in white neighborhoods.
› Hispanics' education levels rocket up
Education levels attained by Miami-Dade County's Hispanic population have grown exponentially and are pulling ahead of other areas in the nation, experts and studies say.
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