I think it's going to be longer than that. In Florida, we're going to see some slowing of population growth, so that will magnify the impact.

Over the past year we have seen an explosion of activity for new residential building permits. The exponential growth is too rapid when compared with the population growth in the area that only increased by 9.7 percent in the last two years. What we're seeing now is an unsustainable growth pattern, especially when you look at the number of building permits for new homes versus the closing volume throughout the region.

Projects that are announced today will be significantly delayed or will never come to fruition.

That could only be the case if we were producing a significant quality of jobs.

I think the implications are positive. Worldwide, what you see is, when you have more participation by minorities in commerce, the more vibrant their economies are.

We have significant gains in new businesses.