Real Estate In South Florida

"Real estate became very liquid especially in the condo market. People would buy pre-construction pricing and that's before the building was out of the ground, and then they would sell the contract while the building was being constructed and for huge gain sometimes 200% gains," said Glen Daniels of Foreclosure.com.

"People had so much money in this community, in the South Florida community, because they were making so much money from nothing in buying and selling real estate. Wealth was appearing that they were able to drive the consumer market place throughout South Florida," said Genet.