Hurricane Katrina Changed the Market in Gulf States

By | August 27, 2010

  • August 30, 2010 at 12:40 pm
    Marie says:
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    Face it people, LA has always been and will always be a prime target for every tropical storm in the gulf. American taxpayers should not be expected to rebuild the city of New Orleans time after time. It’s a dead city. No business will relocate there and the talent pool is virtually non-existent. The only ones left are those who lack to means to get out. Federal dollars would be better spend relocating them out of New Orleans. How long will a city build below sea level and reliant on dirt walls to keep the ocean out exist?

  • August 30, 2010 at 3:07 am
    Jaydee says:
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    Amen, Marie. As much as I have enjoyed my visits to the city of New Orleans, the city was waiting for a Katrina for decades, and is still a poor risk because of its location.

    Regardless of whether the states in the Gulf region pass more stringent buidling codes, houses that resist windstorms can and will be damaged by storm surges. It is a matter of time before the next Category 3 of higher storm hits the area.

    This article does not mention the recent oil-spill catastrophe that has also ravaged the Louisiana Coast and caused potentially greater economic damage to the marshlands and the fishing, shrimping and crabbing industries. Without their state property pools, it is unlikely that insurance would be available to most area residents and businesses. And even those pools are going to be hard-pressed to cover the increasing exposures as their books of business expand.



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