Affects of Real Estate Slump on Conservation

The real estate slump that has been plaguing most of the nation has actually been a positive for conservationists. Environmental and preservation groups are getting great deals on land with scenic and historic value, whereas before they couldn’t even compete with developers for the land.

The Trust for Public Land has obtained almost 1,000 acres of land in Georgia, Oregon, Minnesota and Massachusetts and is currently working on saving beaches on the North shore of O’ahu, Hawaii. The Trust estimates it is buying properties for 30% to 60% less than it could three years ago.

The Florida Conservancy recently purchased between 85,000 and 100,000 acres worth about $380 million.

Even with the real estate slump, though, conservationists are still unable to save some properties. The National Center for Historic Preservation’s 2008 list of the most endangered historic places in the U.S. contains whole neighborhoods this year, including New York City’s Lower East Side and the Charity Hospital area of New Orleans.

Property Wire- US Property Downturn is Good News for Preservationists

Property Wire- Property Bargains in Florida

Newsdesk- Real Estate Slump Good for Conservationists

Thumbnail photo on Flickr: TheTruthAboutMortgage.com

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