South Florida, Ground Zero?

According to TCPalm’s article: “Analyst: South Florida ‘ground zero for housing bust’", not all sectors of the housing market were similarly affected by the economy. While Broward and the Palm Beaches were hammered by declining home values, some sectors have managed to stay unaffected.

It has been determined that many of the upscale communities in the Palm Beach and Broward area have not seen a decline in home-value. Some of these sectors have even experienced bidding wars for properties.

While people think that houses should not be purchased, it is a safe assumption that upscale homes will maintain and instead increase in value.