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4 years ago

Are condo prices and realestate values going to drop along the Mississippi coast because of the oil spill? Will the market prices get cheaper?

the prices of realestate in gulport/biloxi have tripled since Katrina and do you think prices will go down due to the oil spill and what about the value of realestate will it do the same? Is it a good time to buy?
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Ben Fitzgerald
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4 years ago
I heard that they were assuming at least a 10% loss in real estate values for waterfront/close to the water homes that will last at least 3 years (based on prior disasters' effects on the real estate industry in the region) Some regions, they think it will go even lower.

I think that it might be a good idea to wait it out a bit to see which areas really are the most affected and what the prognosis/timeline is before buying, unless you are ok with not buying at the absolute bottom of the market and are willing to hold on to the property for a number of years

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