Oil Spill Likely to Trigger Foreclosures of Gulf Real Estate
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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