Marketplace has a new podcast for kids, "Million Bazillion!" EPISODE OUT NOW

New Orleans’ housing market recovery

Tess Vigeland Aug 17, 2012
HTML EMBED:
COPY

New Orleans’ housing market recovery

Tess Vigeland Aug 17, 2012
HTML EMBED:
COPY

One big lesson of Katrina was the importance of insurance. The storm destroyed more than a million homes in the Gulf region, an estimated $135 billion in damages. And it scattered the population to the wind. Long-time New Orleans realtor John Weil talked to Money host Tess Vigeland about how the housing market is recovering in the Big Easy.

Weil said that the real estate market is mixed across New Orleans, but that it’s slowly but surely coming back.

“It’s one thing to focus on the Ninth Ward, but in due respect, I think it’s relaly important to look at New Orleans and surrounding areas as a whole,” he said. “And as a whole, we’ve done a phenomental job in reconstructing the city and getting it back up and running.”

Take a listen to the interview above to learn more about the improvements and challenges the New Orleans housing market is facing.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.