Hurricane Katrina
Housing market in New Orleans after hurricane Katrina
Table of contents
1. Introduction………………………………………………………………………3
2. Pre-Katrina situation ………………………..…………………………………..4
3. After-Katrina situation…………………………………………………………..6
4. Current situation New Orleans….………………………………………………8
5. Conclusion……………………………………………………………………...…9
6. References…………………………………………………………………….….10
Introduction
It is August 29th of 2005 when the United States of America is badly affected by one of history’s most catastrophic nature disasters. Hurricane Katrina hits the south of New Orleans and causes severe damage to this city. This second biggest hurricane in the entire history of America left 80 percent of New Orleans flooded, approximately 80 billion dollars of damage and more than 1800 killed civilians. Due to this disaster, New Orleans was almost completely destroyed including the residences of thousands of families. Not only were there economic enormous problems but also political questions rose by that time. The president by then, president Bush, came in discredit because of cutting in the federal funding which was protecting New Orleans. Since then a lot of things have actually changed but unfortunately, too late. Complete neighborhoods were removed from the map, people became homeless and moved to different places. The effects on the housing market in New Orleans were immense.
Because of the effect hurricane Katrina had on the housing market in New Orleans, the question which is arising is how the housing market in New Orleans has changed after hurricane Katrina? This paper will first examine the pre-Katrina situation in the housing market. Following on that, the post-Katrina situation. Lastly the current situation will be examined. In the paragraphs the data given will be divided into two different parts of the housing market, the rented houses and actual bought houses. These topics will be supported by a number of graphs to clarify it
Table of contents
1. Introduction………………………………………………………………………3
2. Pre-Katrina situation ………………………..…………………………………..4
3. After-Katrina situation…………………………………………………………..6
4. Current situation New Orleans….………………………………………………8
5. Conclusion……………………………………………………………………...…9
6. References…………………………………………………………………….….10
Introduction
It is August 29th of 2005 when the United States of America is badly affected by one of history’s most catastrophic nature disasters. Hurricane Katrina hits the south of New Orleans and causes severe damage to this city. This second biggest hurricane in the entire history of America left 80 percent of New Orleans flooded, approximately 80 billion dollars of damage and more than 1800 killed civilians. Due to this disaster, New Orleans was almost completely destroyed including the residences of thousands of families. Not only were there economic enormous problems but also political questions rose by that time. The president by then, president Bush, came in discredit because of cutting in the federal funding which was protecting New Orleans. Since then a lot of things have actually changed but unfortunately, too late. Complete neighborhoods were removed from the map, people became homeless and moved to different places. The effects on the housing market in New Orleans were immense.
Because of the effect hurricane Katrina had on the housing market in New Orleans, the question which is arising is how the housing market in New Orleans has changed after hurricane Katrina? This paper will first examine the pre-Katrina situation in the housing market. Following on that, the post-Katrina situation. Lastly the current situation will be examined. In the paragraphs the data given will be divided into two different parts of the housing market, the rented houses and actual bought houses. These topics will be supported by a number of graphs to clarify it
References: W. Victor Crain.(2006).U.S. department of housing and Urban Development. Retrieved 2013, from http://www.huduser.org/portal/publications/PDF/CMAR_NewOrleansLA_07.pdf A.Lopez.(2013).Forbes. Retrieved 2013, from http://www.forbes.com/sites/adrianalopez/2013/01/03/americas-new-frontier-for-business-opportunity/ M.Scott.(2010).DailyFinance. Retrieved 2013, from http://www.dailyfinance.com/2010/08/28/post-katrina-demographic-shifts-could-boost-rebuilding-efforts-i/ A.Plyer.(2013).Greater New Orleans Community Data Center. Retrieved 2013, from http://www.gnocdc.org/Factsforfeatures/HurricaneKatrinaRecovery/ E.Fussell.(2011).Sociology Department Washington State University. Retrieved 2013, from http://paa2011.princeton.edu/papers/112008 R.Ross.(2008).Schalkenbach. Retrieved 2013, from http://schalkenbach.org/scholars-forum/An%20Analysis%20of%20New%20Orleans 'Housing%20Market%20Before%20and%20After%20K.pdf B.Katz.(2005).The Brookings Institution. Retrieved 2013, from http://www.brookings.edu/~/media/research/files/reports/2005/11/metropolitanpolicy%20katz/20051114_costofhousing