Posted by Marcus Lackey on October 10, 2004 at 23:42:08:
My family lives in Pensacola, FL and oddly enough, the destruction of so many houses (as well as the closing of the beach for at least 4-5 months) has meant a severe shortage of properties. Example: my mom just bought a new 4 bedroom brick house and it was worth a little over $200K pre-hurricane. Now some realtors are telling her she could probably get close to $300K if she were willing to sell. There is a significant shortage of houses and it’s really driving the prices upward.