Sun setting on Sunshine State?

WEST PALM BEACH, FL (WFLX) - Has the sun set on the Sunshine State?

Time magazine thinks so.

"There's trouble in paradise," the magazine writes. "We're facing our worst real estate meltdown since the Depression. We've got a water crisis, insurance crisis, environmental crisis and budget crisis to go with our housing crisis. We're first in the nation in mortgage fraud, second in foreclosures, last in high school graduation rates."

All of this... If a hurricane doesn't wipe us out first or if global warming doesn't send us sinking into the ocean.

"Can't just single out Florida' I don't think," said Frances Mangonon, who was visiting West Palm Beach from New York City. "I'm from California, and they have that whole issue with, you know, flooding. Manhattan's going to be flooded, so I don't think that's a really big argument in terms of its just Florida only."

"[The mortgage crisis is] a real huge problem, but, I think, it's more than just Florida," added West Palm resident Lori Williams. "I think it's a crisis everywhere."

But Time highlights the crises facing Floridians here: A one-time swampland, now teeming with development, which has harmed the environment and could collapse the Everglades.

The article argues that the combination of crises has sent retirees to other states and left tourists running for the hills.

But local residents and visitors aren't buying it.

"For people outside of Florida, that's what they're going to see on the news," said West Palm Beach resident Seth Shepherd. "I guess it's kind of hidden in a way, especially the West Palm Beach area, / Jupiter. [It's] very laid-back, and I kind of wish it stayed that way."

"We've had the mortgage crisis in Las Vegas as well," said Sylvia Cortez, who was visiting from Nevada. "It's all over. Everything will run its course, but we'll do good. We'll be back on our feet."

The article, titled Is Florida the Sunset State?, can be found in the current issue of Time magazine on newsstands everywhere or by clicking the blue link.