Housing Bottom in Florida. Miami historically supports Price to Income ratio of 3. Miami 2006 bubble top Price to Income ratio was 7.6. Miami Housing bottom 2015 target - 60% price drop from 2006 bubble top price. Fort Lauderdale historically supports Price to Income ratio of 2.4. Fort Lauderdale 2006 bubble top Price to Income ratio was 6.0. Fort Lauderdale Housing bottom 2015 target - 60% price drop from 2006 bubble top price. Orlando historically supports Price to Income ratio of 2.4. Orlando 2006 bubble top Price to Income ratio was 4.7. Orlando Housing bottom 2015 target - 50% price drop from 2006 bubble top price. Tampa historically supports Price to Income ratio of 2.1. Tampa 2006 bubble top Price to Income ratio was 4.3. Tampa Housing bottom 2015 target - 50% price drop from 2006 bubble top price. Tallahassee historically supports Price to Income ratio of 1.7. Tallahassee 2006 bubble top Price to Income ratio was 3.2. Tallahassee Housing bottom 2015 target - 45% price drop from 2006 bubble top price. Jacksonville historically supports Price to Income ratio of 1.8. Jacksonville 2006 bubble top Price to Income ratio was 3.3. Jacksonville Housing bottom 2015 target - 45% price drop from 2006 bubble top price. Housing Bottom in Florida. Other things to consider. Florida is starting to look bankrupt. Retirees are leaving for other southern states and Latin America. There are no jobs paying even $10/hour. Violent crime is on the rise. Roads and infrastructure is more comparable to third world than US. Local governments are forced to raise property taxes. Hurricane Risks. Strong hurricanes are a very real possibility in Florida. If your house gets a direct hit by a Category 3 or greater hurricane, then it will probably be either completely or partially destroyed. Category 1-2 hurricane hit will probably mean roof/windows and other damage. Increasing Insurance Costs (or even not being able to buy house insurance) because of Hurricane Risks. Insurance companies have either stopped issuing Hurricane Insurance policies in Florida, or dramatically increased premiums. For example, "Their (homeopwners) hurricane insurance premium jumped in 2006, from $945 to $5,143"; "25 percent of business owners in Florida had their insurance policies cancelled this year (2006)". Also, keep in mind that floods are usually not covered by Hurricane insurance (so the house that was damaged/destroyed because of the hurricane-related flood will probably not be covered by Hurricane insurance).

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