An estimate on Katrina recovery
It will likely take an estimated $150 billion to $200 billion and several years to rebuild Gulf Coast areas ravaged by Hurricane Katrina, the American Institute of Architects reports.
The report, “The Economic and Construction Outlook in the Gulf States After Hurricane Katrina,” is based on information supplied by Economy.com, an economics consulting firm. Louisiana will likely take the longest to rebound from the hurricane damage, the report said, and the state’s economy is not expected to recover until 2007. An estimated 250,000 housing units were destroyed in the New Orleans metropolitan area.
“By 2008, probably only about 100,000 of the housing units lost
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