Oil taking toll on Gulf Coast property owners

By doris | Published: May 9, 2010

Full Story at msnbc.com

As floating globs of oil begin to come ashore on the barrier islands off the coast of Louisiana, real estate agents and homeowners along the Gulf Coast are bracing for a potential and perhaps devastating drop in property values.

Already some owners are seeing cancellations stemming from the uncertainty around the size and scope of the oil’s impact, and hurricane-hardened residents inevitably were raising comparisons to devastating storms of the past.

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