Florida is known as the sunshine state. With 1,350 miles of coastline, it is also known for its sandy beaches and warm waters. Of Floridas 34.5 million acres, over 10 million is used in farms. The major crop is citrus, such as oranges, grapefruit and tangerines. Other agricultural exports are tomatoes, strawberries and sugarcane.
Swamps are also a big part of Floridas land area. The boggy areas house exotic animals and isnt well suited to developers, due to wetland restrictions. Investors may be buying the land, but they are sitting on it until wetland restrictions ease or someone else wants to buy it for a higher price. In 2005, the population stood at 17.7 million people and continues to grow. Housing units in 2000 number 7.3 million units, with 6.5 million in cities and surrounding suburban areas.
The Florida real estate is a mixed market. Areas near the Gulf of Mexico and the Atlantic Ocean are expensive and desirable to retirees, tourists and baby boomers and on the rise. Housing inland is cooling slightly and prices have been leveling out, as well as the new construction rate. The median rate for occupied units is $105K. New construction is still popular for subdivisions around Tampa, Orlando and Jacksonville.