Spill may drop values $4.3 billion

  • By Business Observer Staff
  • | 10:00 p.m. June 11, 2010
  • | 0 Free Articles Remaining!
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Oil Spill May Cost $4.3 Billion in Property Values
-Bloomberg

BP Plc's oil spill may drive down the Gulf Coast's shore-area property values by 10 percent for at least three years, according to CoStar Group Inc.

Losses may total $4.3 billion along the 600-mile (966- kilometer) stretch from the Louisiana bayous to Clearwater, Florida, the property-information service estimates.

 

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