TALLAHASSEE - The best that can be said about Florida’s economy is that it has finally bottomed out. The bad news, state legislators learned Tuesday, is that the recovery will be painfully slow.  Economists say that Florida may be facing one of its slowest economic recoveries since the Great Depression.

The Fed’s latest “Beige Book” report—based on economic data from each of its 12 regional member banks—found positive signs in nine of the 12 regions it covered.

While national sales rates have declined for two straight months, Southwest Florida continued to post gains. 

First American CoreLogic, the research firm that monitors housing equity, reported Tuesday that 11.3 million homeowners—or 24% of all homes with mortgages—were underwater as of the end of 2009. That’s up from 23% and 10.7 million borrowers three month earlier.

Weak insurers put Floridians at risk!