Oil Spill Likely to Trigger Foreclosures of Gulf Real Estate

June 29, 2010
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Homes along the immediate path of the Gulf Coast oil leak are forecast to decline at least 30 percent in value as a result of the environmental catastrophe produced by BP's uncapped well off the coast of Louisiana, according to a new forecast by Housing Predictor.

The forecast is being issued after more than a month of research and monitoring the impact of the oil leak, which has poisoned the ecosystem along the marshes of the Louisiana coastline and as far east as Alabama.

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