Looking beyond the down cycle. The X-factor that could help S. Florida recover faster than expected

We know the bubble is coming; some might say it’s already here, but most likely we have only seen the calm before the storm. 
How will the market recover?  How fast will it recover?  Supply and demand says that the glut of supply, resulting from foreclosures, new condo conversions (yes they are still converting, I know of a few that my realtor emailed me about) and new houses, must be absorbed at lower prices before going up again. 
Where will the demand come from?  You can argue baby boomers retiring to Florida, but more and more, the media has been promoting cities like Austin Texas for its affordability as well as leisure activities such as going back to school for adults!!
One x-factor I believe will actually come from South American nations like Brazil.  Brazil just recently repaid their entire debt to the IMF, International Monetary Fund, and their financial system is starting to mature.  With the help of Wall Street investment bankers, foreign capital is pouring in with the expectancy of a boom in Equity Market like India, another maturing economy.  The wealth generated there could induce REI opportunities offered by foreclosures in S. Florida.
I don’t foresee this happening over the next year or two.  But if you are in for a long haul, when foreign capitals start flowing in, it could well be a sign of the start of the recovery.