Miami's housing 'bubble' biggest in nation

Miami-Dade's unprecedented property boom has a new distinction: It is the fattest real estate ''bubble'' in the country, according to a recently released report.

The gap between prices and local incomes has grown faster in the Miami metropolitan area than in any other U.S. city, according to the report by Merrill Lynch. The study was prompted by Federal Reserve Chairman Alan Greenspan's observation this month that there are ``signs of froth in some local markets.''

[Miami Herald]

It's only a matter of time when the bubble will burst - read '99, tulips all ovah again.