Real Estate Speculation Moves in to the Gulf coast States following hurricane Katrina & Rita

One if the consequences of the aftermath of hurricanes Katrina and Rita that have hit the Gulf Coast is the speculation buying that has begun. Damaged homes, lots with rubble, and houses in states of disrepair have “For Sale” signs on them as “Placards announcing “We Buy Houses, Cash!,” are posted on corners throughout middle-class neighborhoods”. Speculation has become the name of the game as prices have escalated and “even damaged properties – have jumped 10 to 20 percent”.

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