> > > > > > > Real Estate Collapse In The > Gulf<http://thecomingdepression.blogspot.com/2010/06/whos-last-person-to-turn-lights-off-in.html> > The phone call was short and to the point: A buyer who had agreed to spend > $500,000 (U.S.) on a beachfront home with a stunning view of the Gulf of > Mexico was backing out. > > > The cancelled sale was a blow to *real estate* agent Linda Henderson, but > it wasn’t a surprise. Globs of thick, pungent oil are washing up on the > shores of Alabama’s Dauphin Island, and the smell on some days is enough to > drive the island’s predominantly senior population back into their homes. > > > It’s also enough to drive real estate agents to despair. “I can tell you > that things have pretty much dropped to dead,” she says. “We were on track > for our best year since Katrina. This is devastating – you can say that the > spill killed the real estate recovery.” > > > The end of the recovery is a particularly frustrating development for the > Gulf Coast states of Louisiana and Mississippi, where foreclosure rates have > consistently been among the lowest in the country. The region’s relatively > tight *mortgage* rules kept a lid on home prices during the housing bubble > and prevented the boom-and-bust pattern seen in many other regions of the > U.S. But just as prices were stabilizing and sales were increasing, the > spill has brought activity to an abrupt halt. > > > “What the housing recession and Great Recession couldn’t do to property > values along the Gulf, this could easily accomplish,” said real estate > analyst Jack McCabe of McCabe Research and Consulting in Deerfield Beach, > Fla. “It’s a knockout punch, plain and simple.” > > > As oil rigs shut down for at least six months and industries ranging from > fishing to tourism wrestle with an uncertain future, real estate agents > wonder how long out-of-work fishermen, *oil rig workers* and tourism > providers can keep making mortgage payments. If they stop paying their > bills, foreclosure rates could march higher. Prices may fall as banks > auction properties to make back what little money they can. > > More > Here..<http://www.theglobeandmail.com/report-on-business/gulf-spill-plays-havoc-with-real-estate/article1612385/> > > > Read more: http://thecomingdepression.blogspot.com/#ixzz0rgiMucct > Under Creative Commons License: > Attribution<http://creativecommons.org/licenses/by/3.0> > > > http://thecomingdepression.blogspot.com/ > > __._,_.___ > Reply to > sender<[email protected]?subject=real+estate+collapse+in+the+south>| > Reply > to > group<[email protected]?subject=real+estate+collapse+in+the+south>| > Reply > via web > post<http://groups.yahoo.com/group/wtpatltotrtf/post;_ylc=X3oDMTJycW9uZms0BF9TAzk3MzU5NzE0BGdycElkAzE2MTUyOTQEZ3Jwc3BJZAMxNzA1MDYwMzc1BG1zZ0lkAzEyNzIxMQRzZWMDZnRyBHNsawNycGx5BHN0aW1lAzEyNzczMDYwODg-?act=reply&messageNum=127211>| > Start > a New > Topic<http://groups.yahoo.com/group/wtpatltotrtf/post;_ylc=X3oDMTJlcm0wbzljBF9TAzk3MzU5NzE0BGdycElkAzE2MTUyOTQEZ3Jwc3BJZAMxNzA1MDYwMzc1BHNlYwNmdHIEc2xrA250cGMEc3RpbWUDMTI3NzMwNjA4OA--> > Messages in this > topic<http://groups.yahoo.com/group/wtpatltotrtf/message/127211;_ylc=X3oDMTM4dG4yMG1sBF9TAzk3MzU5NzE0BGdycElkAzE2MTUyOTQEZ3Jwc3BJZAMxNzA1MDYwMzc1BG1zZ0lkAzEyNzIxMQRzZWMDZnRyBHNsawN2dHBjBHN0aW1lAzEyNzczMDYwODgEdHBjSWQDMTI3MjEx>( > 1) > Recent Activity: > > > Visit Your > Group<http://groups.yahoo.com/group/wtpatltotrtf;_ylc=X3oDMTJlaGFqMXRrBF9TAzk3MzU5NzE0BGdycElkAzE2MTUyOTQEZ3Jwc3BJZAMxNzA1MDYwMzc1BHNlYwN2dGwEc2xrA3ZnaHAEc3RpbWUDMTI3NzMwNjA4OA--> > Please visit our new web site: > > > http://minutemanfirstaidandsurvivalsupplies.com > > > To Post a message, send it to: [email protected] > > > We The People At The Liberty Tree On The Road To Freedom > > > IN LOVING MEMORY OF MY WIFE DORIS. You were the best part of my life I will > always love and miss you. 3 December 1959 to 18 February 2010 With Love, > Paul > MARKETPLACE > > Stay on top of your group activity without leaving the page you're on - Get > the Yahoo! Toolbar > now.<http://us.ard.yahoo.com/SIG=15ordn01q/M=493064.13983314.14041046.13298430/D=groups/S=1705060375:MKP1/Y=YAHOO/EXP=1277313289/L=10cee420-7eda-11df-a225-e300e4250914/B=ZR4oMmKImnE-/J=1277306089447862/K=ZFe8SnWWUsWkYmVNj3gYUQ/A=6060255/R=0/SIG=1194m4keh/*http://us.toolbar.yahoo.com/?.cpdl=grpj> > ------------------------------ > > Get great advice about dogs and cats. Visit the Dog & Cat Answers > Center.<http://us.ard.yahoo.com/SIG=15obh3pft/M=493064.13814537.14041040.10835568/D=groups/S=1705060375:MKP1/Y=YAHOO/EXP=1277313289/L=10cee420-7eda-11df-a225-e300e4250914/B=Zh4oMmKImnE-/J=1277306089447862/K=ZFe8SnWWUsWkYmVNj3gYUQ/A=6078812/R=0/SIG=114ae4ln1/*http://dogandcatanswers.yahoo.com/> > ------------------------------ > > Get real-time World Cup coverage on the Yahoo! Toolbar. Download now to win > a signed team > jersey!<http://us.ard.yahoo.com/SIG=15odq9tkh/M=493064.14012770.13963757.13298430/D=groups/S=1705060375:MKP1/Y=YAHOO/EXP=1277313289/L=10cee420-7eda-11df-a225-e300e4250914/B=Zx4oMmKImnE-/J=1277306089447862/K=ZFe8SnWWUsWkYmVNj3gYUQ/A=6093983/R=0/*http://us.lrd.yahoo.com/_ylc=X3oDMTFnaW51Y3EyBHRtX2RtZWNoA1RleHQgTGluawR0bV9sbmsDVTExMjc3MDUEdG1fbmV0A1lhaG9vIQ--/SIG=1219e5kan/**http%3A//toolbar.yahoo.com/tour%3Ftab=wc%26.intl=us%26.cpdl=wc> > [image: Yahoo! > Groups]<http://groups.yahoo.com/;_ylc=X3oDMTJkdXRvazg4BF9TAzk3NDc2NTkwBGdycElkAzE2MTUyOTQEZ3Jwc3BJZAMxNzA1MDYwMzc1BHNlYwNmdHIEc2xrA2dmcARzdGltZQMxMjc3MzA2MDg4> > Switch to: > Text-Only<[email protected]?subject=change+delivery+format:+Traditional>, > Daily > Digest<[email protected]?subject=email+delivery:+Digest>• > Unsubscribe <[email protected]?subject=unsubscribe>• > Terms > of Use <http://docs.yahoo.com/info/terms/> > . > > __,_._,___ >
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