Gulf Coast Commercial Property Experts See No Long-Term Effect on Supply or Demand
The BP oil spill that has continued for more than 60 days has caused widespread environmental damage and is already affecting shipping, fishing and tourism, but commercial property experts in the region do not believe the accident will have a significant impact on Gulf Coast real estate markets, according to a special report released today by NAI Global.
Commercial real estate leaders from markets bordering the
NAI Global, the world’s premier managed network of commercial real estate firms and one of the largest real estate services providers worldwide, has a presence in markets all along the Gulf Coast, including New Orleans, LA, Pensacola, FL, Mobile, AL, Fort Myers, FL, and Houston, TX.
While there is no questioning the potential environmental impact, Dr. Linneman, NAI Global’s Chief Economist, suggests that political activists are inflating the economic impact of the oil spill, and that the impact on the Gulf Coast’s economy in general and real estate in particular will probably be minimal.
“This spill is the most overhyped problem we’ve seen in the past six months,” said Dr. Linneman. “The overall economic impact to the nation will be trivial.”
The full report is available for free download at www.naiglobal.com under Publications/Articles & White Papers, or by clicking here.
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