It is becoming much more evident just how much home values have fallen in South Florida since the peak of the market. With more than 500,000 Florida homes receiving some form of foreclosure notice last year, it should come as no surprise that prices are continuing to tilt downward.

The Miami metropolitan area has the nation’s 10th-highest foreclosure rate, with 3.89 percent of homes receiving a notice during the first half of 2010, RealtyTrac Inc. said Thursday.

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Recently, the California Watch had reported that over 200 nursing homes received millions of dollars in taxpayer money to upgrade residents care but instead they used the money to boost their own financial health and cut back on staff and their wages.