|
On Monday, August 29th Hurricane Katrina,
struck the Louisiana, Mississippi and Alabama gulf-coast. Katrina
resulted in breaches of the levee system that protected New Orleans from
Lake Pontchatrain, and most of the city was subsequently flooded by the
lake's waters. This and other major damage to the coastal regions of
Louisiana, Mississippi, and Alabama made Katrina the most destructive
and costliest natural disaster in the history of the United States with
damages exceeding $200 billion. Over a million people were displaced — a
humanitarian crisis on a scale unseen in the U.S. since the Great
Depression. The Baton Rouge metro area (only 60 miles from New
Orleans) experienced an explosion in population almost overnight as
thousands of residents, businesses and governments relocated here from affected
areas. The following information is an attempt to begin
to quantify the impact of the Hurricane on the Baton Rouge Metro area
real estate market. |
