Residual Effect of BP Oil Spill on Gulf Real Estate

If you're wondering whether the BP Oil spill crisis would have a lingering impact on the U.S. economy and the real estate market, now is a good time to get the facts strait. Billions of dollars in house value declines are at stake.

When you think of traditional gulf states such as Louisiana, Mississippi, and Alabama, one doesn't need to travel too many years into the past to appreciate their struggles.  Here's a small sample of suffering experienced along the gulf during the last century:

1) Great Mississippi Flood (1927): Simply put, this was the most destructive river-based flood in the history of the United States.  At least 10 states were directly affected, with more than 14% of total Arkansas land swamped by flood waters.

2) Hurricane Katrina (2005): The unprecedented storm of the century brought the entire gulf region to its knees.  Billions of dollars were lost in property value, some of which was unpreventable while a large percentage of the destruction (i.e. New Orleans) could have been prevented with a modernized levy flood control system.

3) BP Oil Spill in the Gulf (2010): The Deepwater Horizon oil spill is the single largest marine-based spill in the history of petroleum.  Approximately 5 million barrels of crude oil were dumped into the waters only a few miles from the gulf shoreline.

4) Ongoing Storms, Tornados, and Floods (2010): As terrifying as it is to consider, FEMA indicates 2 related disasters have occurred during 2010 just in the state of Mississippi alone.  Records show this vulnerable section of the gulf is victim to FEMA-authorized major disasters on an almost yearly basis.  Alabama ranks 7th on the total number of FEMA disasters, while Florida is 4th and Texas is 2nd.  Comparing this to Wyoming, with only 8 disasters reported in its state history (and 51st on the list), gives you some perspective on the vulnerability of the gulf to natural calamities.

Taking into consideration the history of natural and man-made disasters along the gulf shore during the last century, it isn't hard to imagine what kind of impact such facts have on the real estate market.  As a profession, traditional realtors have been replaced by short sale investors looking to quickly flip existing homes for sale, just as they did during the Hurricane Katrina aftermath.  In fact, it's easier to find a Realtor seeking their piece of the BP financial reimbursement pie than one raking in hefty home sale commissions.

Yvette have been writing articles for nearly 2 years. Come visit his blogs more often for tips and advice that helps people with the interest for homes in wyoming for sale and great passion and knowledge for homes for sale in casper wyoming and all the different options & providers available in the market today. Find out for more info also here homesinwyomingforsale.com