Some housing bubble reports from Florida. The Bradenton Herald, "52 percent-fewer single-family homes were sold in Manatee County in June than a year ago. 'Definitely I think the bubble burst. If it hasn't, it's leaking badly,' said (realtor) Helen Robinson."

"One area where the downturn is more pronounced is condo sales, which produced few sales and a lower median price. Robinson is worried that if real estate taxes and insurance rates continue rising, it could discourage snowbirds and second-home buyers from investing in the market."

"'If taxes and insurance rates go up, the second-home buyers are going to be hurt,' she said. 'We're really killing the goose that lays the golden egg.'"

"In June, 560 homes were sold compared to 1,025 in June 2005, Dale Friedley of the Manatee County Property Appraiser's office said. Likewise, the sales of condos continued to tumble, falling 41 percent from last June's sales."

"Forty-two single-family residences were sold versus 117 last year, down 64 percent, according to the Anna Maria Island Property Sales Report. Anna Maria condo sales plummeted 78 percent with 26 sold in the first half of 2006 compared to 116 last year. Four condos were sold in June 2006 versus 19 last June.'

"It's a sign that Polk County is no longer owned by the sellers. 'Our incentives are in response to the market slow down,' said Callie Neslund, Southern Homes' marketing assistant. 'It seems like it is a nationwide trend.'"

"Southern Homes in Lakeland is now offering a buy-down incentive. 'That ends up being over $70,000 in savings,' Neslund said."

"'We have three times the listings that we had at this time last year,' said Jan Bellamy, a Realtor in Lakeland. 'We have fewer buyers, too, and the investors are all gone. Most homeowners only have one home to sell,' she said. 'These builders have millions (of dollars) in inventory and hundreds of employees to protect.'"

The Palm Beach Post. "Mark Vitner, economist at Wachovia Corp, said he has begun to temper his once-bullish outlook on Florida. He warned that fault lines have begun to appear in the state's solid economy."

"The housing market has slowed dramatically, Vitner said. In addition, he said Florida employers are starting to leave the state because of the rising costs of insurance and real estate, and the tight labor market."

"'We've gone from a situation where everything was so positive to a situation where we're victims of our own success,' Vitner said. 'Florida is beginning to choke on its growth a little bit.'"

"Vitner, who once was the cheeriest of cheerleaders for Florida’s economy, is feeling a little less sunny about the Sunshine State. Among the economic clouds he points to: The end of Florida’s wave of real estate speculation. Many people who signed contracts on new homes never planned to close, instead hoping to flip for big bucks, he says. Now they’re backing out or taking title to homes they had hoped to sell.'"

"To put Vitner’s sober outlook in perspective, understand that he was the picture of optimism during last year’s boom. Here’s how Vitner sized up Florida back in November: 'It’s hard to come up with the correct superlatives. We have the best economy by far in the nation. I don’t want to say it’s an embarrassment of riches, but the economy is so strong in Florida from coast to coast.'"