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Crash killed $3 billion in value at Related projects

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Looking back at the precipitous fall in condominium values in South Florida during the real estate crunch, is not unlike pausing to peer at a car crash on the interstate: morbid and not particularly useful. But Related Group CEO Jorge Perez last Friday provided hard numbers for the first time for what the developer lost in real estate value in the 2008 debacle, the Miami Herald reported. Only approximately 3 percent of Miami condo buyers [more]

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