My parents are in Florida right now trying to invest in some really dirt cheap florida properties for rentals (i'm talking 60K or less houses that would probably fetch at least 300k+ here in southwest CT). Our housing market barely budged, yet florida completely took it in the pooper, i'm talking homes losing 2/3rds of their price, and even at it's peak, the houses weren't that expensive to begin with. I noticed that unemployment in cape coral/fort myers (where my parents are looking) is 11.4 whereas unemployment is 7.4 where i live. Is that the main cause? Or are there other factors.