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Hurricanes Lift Markets Higher

April 15, 2006

An article in the April 2006 issue of Money Magazine had the following title: Gulf Coast Revival; Hurricanes come and go but coastal markets only go up. The article states that the undamaged homes in Biloxi Mississippi increased by 25% since hurricane Katrina. This is no surprise to me; having witnessed a similar increase in demand in Sarasota after Hurricane Charley hit the Fort Myers area in 2005. The article also stated that the Fort Myers market experienced a 33% increase following Hurricane Charley. The article further pointed out the overwhelming demand for homes in all coastal communities and the high cost of constructions in hurricane damaged areas have a positive effect on home values.

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