Gulf Oil spill could cost coastal homeowners up to $3 Billion in home values

Dennis Norman

Report looks at impact of the BP Deepwater Horizon Oil spill on Florida Coastal home values

According to a report released this morning by CoreLogic the impact of the BP DeepWater Horizon oil spill on home values in the coastal area’s along the Gulf coast is expected to range from $648 million over one year to as much as $3 billion over five years. This estimate is for the communities that are already impacted by the spill, if the unlikely worst-case scenario occurs and the spill reaches down to the area of the Florida Keys and up the Florida Atlantic coast then additional losses could reach up to $28 billion over five years according to the report. Continue reading “Gulf Oil spill could cost coastal homeowners up to $3 Billion in home values