MIAMI -- Dozens of construction cranes can be seen from the distance in the Downtown Miami skyline. Most of the cranes are in the process of building high-rise condominiums.

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The problem is, with so many new buildings going up, it's going to be difficult to find people to occupy the units.

The condo-building bust is being felt by more than the developers. It's affecting jobs, the housing industry and the economy. And, at the rate they're being built, experts said Florida is headed into a recession.

Some real estate experts have been predicting a crash since novice investors jumped into the condo market several years ago creating a boom in construction that transformed the South Florida skyline.

An article on Bloomberg.com said the glut of condos is pushing Florida's economy to the brink of recession.

The numbers showed a big change from the years before 2005, when prices jumped 30 percent a year. In the spring, more than 22,000 condo units were already for sale in Miami-Dade County.

Realtors said some of the most beautiful properties are taking longer and longer to sell.

The Florida Board of Realtors said 37 new buildings are being built in Miami, adding more than 20,000 condo units to those that are already for sale.

Mark Zandi, the chief economist at MoodysEconomy.com, said prices will crash and pull back about 30 percent.

The Department Of Labor said nationwide housing accounts for about 10 percent of the country's jobs. In Florida, that number is closer to 20 percent -- a factor some people said means a condo crash will cut through all sectors of Florida's economy.

Governor Charlie Crist recently joked that the building crane could be the new state bird.

One Realtor said he was offered incentives to bring people into condo buildings that will not be completed for several years. The incentives included getting paid when deposits are made, not when the closings take place as is normally done.

However, other Realtors said instead of selling at a loss, some investors are refusing to close on the property and just give it back to the developer.