The Palm Beach Post reports from Florida. "For Bob Healey, the city's $2.4 billion waterfront redevelopment plan is like a yacht stalled at sea. His company was picked a year ago this week to turn 400 acres of blight into a dazzling waterfront. There is little to show, after 12 months and more than $50 million, Healey said."

"'We're not going forward on anything,' a frustrated Healey said. A glut in the condominium market..contributed to the project's lack of progress."

The USA Today. "With a median sales price of $177,900, homes around the central Florida city of Ocala are a steal compared with those in many housing markets on the East Coast. 'We're getting a lot of buyers from New York and the Northeast who are selling their houses for $500,000 to $600,000 and coming down here and paying cash and putting a wad in the bank,' says agent Tom Rath."

"But the trend has likely peaked, judging from the number of 'just reduced' signs around town. A big problem is the seven-month supply of properties on the market. The inventory of homes is up more than 300% from last summer."

"'Folks are still thinking they can get top dollar for their homes,' Rath says of his recent clients. 'I don't think reality has set in.'"

The Sun Sentinel. "Florida leads the nation in the number of condominium-hotel rooms in the pipeline, but analysts fear an oversupply could prove troubling for developers and consumers. The Sunshine State has more than 31,500 condo-hotel rooms under development."

"South Florida is a hotbed for condo-hotels, which investors consider a good alternative to second homes. Investors buy the individual hotel rooms from developers, who use the money to help finance the projects. Prices for condo-hotel rooms typically range from $200,000 to $3 million."

"When the owners aren't there, they can rent their rooms, charging fees of $275 a night or more at upscale properties."

"Experts say developers are building too many rooms, just as they flooded the market with residential condos during the housing boom of 2000 to 2005. 'I'm definitely concerned about overbuilding since some of these projects were fueled by the real-estate hype,' said Richard Hollowell, a Fort Lauderdale consultant. 'There are only so many bodies that are coming to certain areas to fill up rooms.'"

"There's no guarantee that owners will have a steady stream of rental income, and many find that they don't have enough money to cover their mortgages, insurance and other expenses. In addition, condo-hotel owners face restrictions..and owners who try to resell units within five years have trouble recouping their money."

"'Just like any investment, it doesn't work out for everybody,' said Bob Goldstein, president of a Boca Raton-based company that oversees troubled properties for banks. 'Condo-hotels are not really designed to improve the net worth of the people who are buying the individual units. The owners are there to provide financing to developers.'"

"Condo-hotel buyers should expect that rental programs will pay 50 percent to 75 percent of their annual costs, excluding mortgages. 'A lot of owners expect to have their unit paid for by the rental program,' said Shadi Zaki, development director for the condo-hotel association. 'That's almost impossible.'"