In the wake of Hurricane Katrinas wide path of destruction, the real estate market will be affected perhaps in ways not fully understood or expected. If recent hurricane recovery history holds true there will be several good things to come out of all destruction. Lets hope so as those who live in the Delta region have suffered immensely.
In September 1989, a strong category 4 hurricane by the name of Hugo made landfall in the Charleston, SC area. Up to that time it was the strongest hurricane to hit the U.S. mainland since Camille whacked the Gulf coast in 1969. The damage from Hugo was extensive with entire forests wiped out and fishing villages and seaside resorts heavily damaged. Dire predictions of the storms negative effect on the local economy were made. I know, because I was living in the nearby town of Goose Creek when Hugo roared through; I witnessed a sustained and lengthy recovery effort for many months thereafter.
These were some of my personal observations of that hurricanes impact on the housing market:
1. Housing stock destroyed. Yes, the number of mobile homes, apartments, and single family homes damaged or destroyed by Hugo was...
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