The financial collapse under the Bush Administration hit south florida right between the eyes... Area is dependent on new construction and tourism, both of which suffered huge losses in 2008, and continued for the first 3 years under President Obama.. It takes a while to right this ship.
Overall the mood under Bush was that of despair and that could be seen in the number of small businesses that failed, including banks.. People were not in a buying mood.
Tourism snapped back big time but overall unemployment is still high thanks to a slow rebound in new housing... It is definitely getting better under President Obama.