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Post-Katrina Recovery of the Housing Market Along the Mississippi Gulf Coast

Post-Katrina Recovery of the Housing Market Along the Mississippi Gulf Coast

Kevin F. McCarthy
Mark Hanson
Copyright Date: 2008
Edition: 1
Published by: RAND Corporation
Pages: 102
  • Book Info
    Post-Katrina Recovery of the Housing Market Along the Mississippi Gulf Coast
    Book Description:

    In summer 2006, the Commission on Recovery, Rebuilding, and Renewal asked the RAND Gulf States Policy Institute to describe the state of the pre-Hurricane Katrina housing markets in Mississippi's three coastal counties, to estimate the damage the storm did to their housing markets, to describe the status of the recovery effort, and to identify problems that might inhibit it. This report publishes the findings.

    eISBN: 978-0-8330-4489-1
    Subjects: Population Studies, Management & Organizational Behavior, Transportation Studies

Table of Contents

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  1. Front Matter
    (pp. i-ii)
  2. Preface
    (pp. iii-iv)
  3. Table of Contents
    (pp. v-vi)
  4. Figures
    (pp. vii-viii)
  5. Tables
    (pp. ix-x)
  6. Summary
    (pp. xi-xiv)
  7. Acknowledgments
    (pp. xv-xvi)
  8. Abbreviations
    (pp. xvii-xviii)
  9. CHAPTER ONE Introduction
    (pp. 1-4)

    In August 2005, Hurricane Katrina devastated the U.S. Gulf Coast. The storm inflicted major damage to commercial property, infrastructure, and housing all along the coast of the Gulf of Mexico, but its effects were most pronounced in about a dozen counties that included Mississippi’s three coastal counties: Hancock, Harrison, and Jackson.¹

    The massive damage inflicted by Katrina, the first catastrophic hurricane to hit the Mississippi coastline since Camille in 1969, prompted the state to mount a major recovery effort. As part of this effort, Mississippi Governor Haley Barbour appointed the Commission on Recovery, Rebuilding, and Renewal to determine the extent...

  10. CHAPTER TWO Profile of the Pre-Katrina Housing Market
    (pp. 5-20)

    This chapter profiles the pre-Katrina housing market in Mississippi’s Hancock, Harrison, and Jackson counties. As such, it provides benchmarks against which to measure the damage that Katrina inflicted and to assess the progress that has been made toward recovery. These benchmarks are presented in four parts. First, we compare the sociodemographic and economic characteristics of the three coastal counties with those in the rest of the state. Next, we compare population and housing characteristics across the three counties. Third, we provide a detailed picture of the housing market before Katrina, looking at the housing stock, profiling the housing submarkets, and...

  11. CHAPTER THREE Damage Done to Housing Stock
    (pp. 21-34)

    Katrina devastated the coastal housing stock. The damage that the storm caused was a product of a storm surge that reached 30 feet, widespread flooding, wind, and rain—and often a combination of these elements. As we will demonstrate, the severity of the damage done varied by its source—a pattern that is relevant both to the residents whose housing was damaged, since their ability to receive compensation for their loss is often tied to its source, and to planners who must consider how to reduce the damages that future hurricanes may cause.¹

    Although the effects of Katrina were widespread,...

  12. CHAPTER FOUR Progress of Recovery
    (pp. 35-46)

    Having identified the damage that Katrina did to the housing stock, the next step is to evaluate the progress that has been made toward recovery. This step is critical to an assessment of the progress of recovery efforts and to identify where the major problems in the recovery effort may be occurring. Unfortunately, there is no definitive data source that can serve this purpose. However, the two sources of data on building permits described in Chapter Three (the data from individual jurisdictions and the Treen Permit Reports) provide a basis for estimating the extent, pace, and character of the recovery...

  13. CHAPTER FIVE Key Issues
    (pp. 47-64)

    The preceding chapters have described the characteristics of the housing market in Mississippi’s three coastal counties before Hurricane Katrina; estimated the source, intensity, and location of Katrina’s effects on that market; and assessed the recovery efforts made by July 2007. These comparisons indicate that, although Katrina’s effects on the housing market were widespread, they were not even. Indeed, a higher percentage of the rental stock, especially multifamily rental properties, was damaged and damaged more severely than in the owner-occupied market. Similarly, housing units in the coastal and coastal-adjacent zones were likelier to have sustained moderate and severe damage than were...

  14. APPENDIX Methodology
    (pp. 65-78)
  15. References
    (pp. 79-84)