How The Oil Spill Will Effect Real Estate

CR Daily News Prediction© REAL ESTATE (Predicted July 18, 2010)

REAL ESTATE – The Gulf oil spill has destroyed people’s ability to make a living on the coast. From the fishing industry to all the supporting infrastructure connected, it seems that the Gulf coast has suffered a long-term devastation to its economy. What will happen to real estate in the affected coastal areas?

Predictions from Higher Intelligence: - “Real estate in the affected areas will be devastated along with people’s inability to earn a living. People, unable to find local employment, will be force them to relocate. They will not be able to sell their homes and will have to walk away. At first, they will seek compensation for moving, lost real estate value, and money to buy or rent somewhere else from BP, but BP will not be paying anything for relocation or for destroying real estate values.”

Commentary from the Mediums: BP will win the first round of the fight with people trying to collect compensation for relocation. However, if the banks end up owning most of the houses and Gulf coast towns become ghost towns (just like mining towns did in the West after the Gold Rush) you may see large banks going after BP directly with lawsuits to recoup lost money on Gulf housing. The US government, being controlled by big banks, will demand compensation from Great Britain if BP is bankrupt or gets nationalized.

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