“There are about 900,000 properties in Florida that are in some stage of distress — 370,000 already in foreclosure and another 530,000 with mortgages that are 90 days past due....Of those, about 720,000 will have to be sold through foreclosure or short sales within the next 18 to 36 months, McCabe predicted.”
http://www.heraldtribune.com/article/20120112/article/120119896?p=1&tc=pg