The Real Deal Miami

Oil spill could affect Florida

July 28, 2010 11:15AM

A University of Florida report says the spill could have a downward effect on home prices

According to a recent report from the University of Florida, the gulf oil
spill could have an adverse effect on Florida home prices. “It is possible that
prices could decline further, particularly if the effects of the oil
spill ultimately reach the west coast of Florida, or if perceptions of
these effects remain negative,” said Chris McCarty, the UF survey research director. According to McCarty, evidence suggests that future reports of
declines in taxable value could be attributable to a decline in
tourism and caution on the part of Florida consumers, unsure about the
potential fallout from the spill. [Palm
Beach Post]