With Tropical Storm Fay hitting Florida, property insurers have stopped writing policies in Broward and Palm Beach counties, a decision that will postpone home sales for at least a few days.
The values of homes, businesses and other properties across Florida declined $153 billion during the last year, and the murky economic picture isn't expected to improve until sometime in 2009, state officials said.
A foreclosure auction for Las Olas Riverfront was put on hold Tuesday, when an interested lender reached a last-minute agreement to take over the troubled retail and restaurant complex.
