Gulf oil spill may be the final straw for struggling property owners

Posted on June 6th, 2010 No Comments

According to estimates released this week by Housing Projector, coastal property values in Louisiana and Mississippi may erode by 30% due to the massive oil spill in the Gulf of Mexico. The oil spill is only 42 miles off of the Louisiana coast, an area that is still struggling to rebuild following Hurricane Katrina. Housing analysts believe that the projected losses may send tens of thousands of homes into foreclosure.

In addition to historic rates of foreclosure among coastal property owners, tourism and vacation-home rentals are expected to see a precipitous drop due to the disaster in the Gulf. Property values along the coastline have  already seen a 65% decline in values since the peak of the housing boom, and the predicted erosion from the oil spill will further jeopardize property owners in this area.

The oil spill attorneys of Williams Kherkher are here to help you with your property damage claims. Contact an experienced lawyer at 800-821-1544 to discuss your legal options today.

Leave a Reply





Get news about the areas in the destructive path of Gulf oil spill.

Learn more about the affected areas of the Gulf oil spill
home  |  about us  |  environmental impact  |  economic loss  |  affected areas  |  types of claims  |  contact us  |  articles  |  law resources  |  faqs  |  blog  |  locations  |  Log in

Copyright ©2010 Williams Kherkher. Attorneys are licensed only in the state of Texas unless otherwise indicated in the biographical section. Past performance is no guarantee of future results. Williams Kherkher's primary office is located in Texas. The choice of a lawyer is an important decision and should not be based solely upon advertisements.
Terms of Use  |  Disclaimer  |  Sitemap

8441 Gulf Freeway, Suite 600, Houston, TX 77017-5051
Call toll free today: 800-821-1544
John Eddie Williams +