Drive around Bird Key and you will get the impression that the Great Recession is receding into memory.
"The increased luxury spending reflects a broad split in the labor market," said Mark Vitner, a senior economist for Wells Fargo who tracks Florida closely. "A number of high-end occupations are doing relatively well, whereas the vast majority in the middle is still struggling because of a lack of access to credit." Fourteen luxury homes are going up on this tiny island -- representing about 3 percent of its entire housing stock -- and the final cost of their construction is expected to far exceed $14 million. read more . . .
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