The Miami Herald offers a sector-by-sector analysis of the South Florida economy for 2009 beginning with housing. In their 2009 Annual Outlook, Wachovia says "New home construction is likely to fall further. Rising unemployment, plunging stock prices and tight credit conditions are hardly a formula for increased home sales. These days, one gets the feeling that potential homebuyers would be less afraid staying at the Bates Motel than they are buying a new home." A headline summary of the other sectors includes Finance ("Banks Await Bailout Money"), Trade ("Cargo Tonnage Is Down, Trade Credit Is Tight"), Tourism ("Weak Economy Means Canceled Vacations"), Health Care ("Hospitals Worry About Getting Paid"), and Agriculture ("Ag Industry Faces Multiple Threats"). UF economist David Denslow says the current environment is unprecedented: "Our ordinary models don't explain what's going on. All those ordinary models aren't working, and now everybody is groping. No one knows what's really salient."
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