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June 12, 2008

Suing over expectations

From Drudge:

A group of real estate developers and property owners in La Manga del Mar Menor - a spit of sandy, low-lying coastal land and Murcia's premier beach resort - are threatening to take Greenpeace to court over its graphic predictions of what global warming may do to the area, which they say have caused house prices to plummet.

Comments

Anyone who buys or sells property on the say so of Greenpeace is an idiot.

My guess is that there is a softness in the real estate market (much like the rest of the country) and there are genuine concerns about local coastal erosion in the area...kicking the idiots at Greenpeace is so much smoke and mirrors.

I think the phrase "a spit of sandy, low-lying coastal land" says just about all anyone needs to know about the developers and buyers.

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