Five years ago Cape Coral was the fastest growing city in all of the USA. Nearly a thousand building permits were issued each month and people were hired to take care of the building boom.Office workers to process the paper, planning people to approve the plans presented and inspectors to check the many building code requirements caused turmoil at the city hall building department.
Workers came from every part of America and arrived to find work of every kind. Skilled labour was at a premium and builders had to settle for less than acceptable standards. City officials were swamped and tempers flared when plans were not approved in a timely fashion. Building lots that were regularly sold for $3000 sky rocketed to almost $100,000 in four years. Water lots sold for almost a million and more. It was a building boom like no other.
Companies were advertising for house to be sold like rent to own at low interest rates for three years and people snatched these deals like candy. We sat back and wondered at the traffic and the influx of foreign workers. It was estimated that there were 30,000 Mexican labourers in our area and they were great workers as well.
Commercial enterprises sprung up and as an example there three restaurants on Pine Island Road and in three years there were over thirty five. Everyone seemed busy and waiting lines at stores and eating establishments was routine.
Half ton trucks with ladders and small trailers were everywhere and radio stations and newspapers were blaming the snow birds for all the accidents. It was unreal. The boom ended with as much speed as the boom began. Overnight reports of bank problems, insurance companies and trust funds in difficulty and companies going out of business faster than you could count. The whole thing was a nightmare. For we who are here for the sun and the quiet winter season were unaffected. Our houses were worth less but we lost nothing and will not until we sell.
Now we sit by our pool, bike on near empty roads past many empty houses and enjoy the peace we came here for in the first place. The workers have gone, there are vacant stores and half built businesses and dreams shattered by our own greed and stupidity. I hope we learned something from all of this but I still see adds for cars reading, no money, no credit, no problem and so on.
Life here is good for us but we see much pain and suffering and I believe it will be years before there is a return to the American dream and great way of life.
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