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From Yahoo! News: Top Stories:
More than 16 months after Hurricanes Katrina and Rita forced an unprecedented exodus from the Louisiana Gulf Coast, tens of thousands of homeowners have decided not to rebuild or have yet to make up their minds, an Associated Press analysis found.
The AP looked at applications to the federally funded Louisiana Road Home program, which dispenses up to $150,000 per homeowner to rebuild or sell out to the state.
Two-thirds of all applicants said they want to rebuild their damaged properties, while more than a quarter have indicated they want out or can't decide what to do.
But in dozens of towns and neighborhoods, particularly those closest to the coast, the percentages of homeowners on the fence or on the way out are higher than average, with as many as two out of three homeowners not committed to rebuilding.
Michael Kurth, a McNeese State University economics professor who has done research for the Louisiana Recovery Authority, said he is not surprised.
"With the scale of destruction that occurred in those coastal areas, it wasn't a matter of `Let's return in a month or in two months,'" Kurth said.
Louisiana demographer Elliott Stonecipher said it is safe to assume that those who were going to commit themselves to rebuilding would have done so by now.
He predicted residents eventually will be lured back: "People are infatuated with water.
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Posted on January 29, 2007 09:47 PM
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