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June 11, 2010

Bloomberg reports BP’s oil spill may drive down the prices of Gulf Coast Shore-area properties by 10 percent for three years, according to CoStar Group Inc.

Homeowners, already battered by a depressed market, are being advised to not panic, not sell and to just wait it out.

The BP oil spill is the worst environmental disaster in US history and is estimated to be spewing 25,000 to 35,000 barrels of oil a day.

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