New Orleans Stagnant

Each month the Brookings Institute releases theKatrina Index. Their conclusion is New Orleans is stagnating…

As these political and policy changes indicate hopes of problem solving and progress on recovery, key housing and economic indicators for the city of New Orleans and the region remain stagnant at best.

More specifically from the Katrina Index:

–The pace of new home renovations has slowed in the past month in the city of New Orleans, while demolitions continue unabated.

–The housing market in the New Orleans region has cooled: the number of homes put up for sale has remained essentially unchanged while the number of homes sold has dropped in the past month.

–Overall, the level of new businesses and public services remain stagnant. […] In short, despite a few signs of progress, the level of new public and private service activity remains the same.

–The overall employment picture for the New Orleans region and the state of Louisiana has remained the same over the past month, while the general employment trends in Orleans Parish have slightly worsened.—–

3 thoughts on “New Orleans Stagnant

  1. This is truly astonishing. In every major disaster in the United States in the past 30 or 40 years, there has always been a big push to get a location up and running again; donations come in; neighbor helps neighbor (not just in town, but neighboring states, even nations) and the like. Everyone wants to see the injuries cured and repairs undertaken…except for this administration. Its simply appalling that the government is allowing this city to rot away. I am sickened by it all. And its NOT AT ALL LIKE IRAQ…NOT.

  2. You hit the nail on the head.
    When Hugo came through South Carolina, the roads were cleared by the guard within a couple of days. Water was delivered. Like other disaster areas, the rebuilding actually spurred parts of the economy [I can’t bring myself to say good for the economy because of the massive damage].
    in the 2000’s, Florida then got 3 major storms in the same year (and admittedly Florida has a highly restrictive law of who can be a contractor in Florida). – Several years later houses still had tarps on the roof which made them extremely vulnerable to even small storms.
    Katrina says hello to NOLA. Fortunately Katrina somehow wore itself down before hitting land – a full Cat 5 would have been much worse. To date, the necessary repairs haven’t been done to the levees to allow protection from even a Cat 3. The infrastructure needed for rebuilding is missing from a large percentage of the land area (rudimentary roads, electricity, gas, drinkable water supply, etc.) So you can’t rebuild unless you have a couple of years income stashed away to survive till things are liveable along with the money to build your own supply chain for what is an economically remote location (despite being in NOLA).
    Imagine applying for homeowners and flood insurance without protection from the highly probable Cat 3. What kind of fool do you think the insurance companies are? They just lost their pants from Katrina – consequently they want to drop properties on the coast. And now you want to re-insure when a measly cat 2 would be a total loss? [Don’t get me wrong, I find the insurance agencies to be heartless, predatory, blood suckers – and those are their good qualities. But even I can understand their desire not to pay out for another Katrina].
    And we haven’t even gotten to the idea of global warming and its effects.

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