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Overbuild Problem / Orlando, Florida #36452

ABC Evening News for Friday, Mar 28, 1975
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(Studio) Reducing prices to fill empty spaces being tried in Orlando, Florida.
REPORTER: Harry Reasoner

(Orlando, Florida) Following on heels of DISNEY World, building boom began but soon went bust. Before construction stopped, 6000 too many motel rooms built; more than million square foot of overabundant office space built; ind. space even more plentiful. [Dvter. Robert OEFINGER - says demand for construction unbelievable in `72 and `73, but in `74 demand seemed to come to screeching halt.] Construction trade hit hardest. [Realtor Robert GARDNER - says many construction workers moved from town after construction boom halt caused massive layoffs.] Action caused thousands of vacancies in apts. and hses. [Task force chairperson Robert HERRELL - says auto industry copied in effort to fill up vacancies.] Rebates, discounts, gifts offered to apt. renters; 5-10% off on factory and office space; as much as 20% off on new home.
REPORTER: David Snell

Reporter(s):
Reasoner, Harry;
Snell, David
Duration:
00:02:20

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