Wednesday, September 07, 2005

Storm refugees prompt surge in home buying

Australian Financial Review -: "Hurricane Katrina destroyed hundreds of thousands of homes, threw at least 1million people out of work, disrupted supply lines for businesses and brought misery to untold numbers. It might just put an end to the US housing boom.
There are good reasons to think it might: the storm has led to rising oil prices and shortages of building materials, and is likely to shake consumer confidence. But most experts think the housing market's five-year run still has a way to go before it peters out.
However, in a weird twist of fate, the storm could even extend the housing boom, which in recent weeks had seemed to be running out of steam. That is certainly true in places like Houston, Atlanta and Baton Rouge, Louisiana, "
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