The foreclosure capital of the United States is Fort Meyers, Florida. It is ranked as the second city with highest rate of foreclosures in the country. Home prices have plummeted and yet it is planned for more than 2,000 new homes to be built. Those responsible for building new homes believe that by creating new jobs the economy will recover that much faster as will the housing problem.

Babcock Ranch and Morgan Stanley have gone into a venture together in creating a solar city which is the first of its kind in the world. They will build new homes as well as create a way to go green. They plan to make sure that the entire city of Fort Myers is able to use wireless internet along with using smart grit technology in homes and offices.

Florida’s power and light plans to build 300 million 75 mega power generating facility for the city. There will be no government assistance, state or federal. They plan to begin in 2010 when the housing crisis is predicted to slow down. Many experts feel that there will be millions more foreclosures by then and the home values will drop another 10 to 15 percent. Idaho, Texas, Colorado, Oregon, North and South Carolinas are beginning to show stabilization in their foreclosures, however, Florida is still seeing high numbers. Experts believe that it is foolish to think about building new homes when there are so many empty homes sitting in inventory for several years. Home prices have gone down from $300,000 from two years ago to less than $100,000.