Texas Hurricane Real Estate Effects

Here I sit waiting for Hurricane Ike to hit Houston, Texas in 9 hours. We expect 90 miles an hour winds and flooding where I live on the North side.

My question: Does anyone have past experience on how this storm will effect local real estate investors, good or bad.

I know building material supplies and cost will be effected. Laborers will be harder to find for rehabbers. Vacant homes will have more water damage. Rentals will be more scarce since some apartment renters will have to be relocated during unit repairs. Higher fuel cost, due to refinery shutdowns. Long term power outages will slow construction.

Some homes will be sold, instead of repaired.

Any other insights?

Local homeowners should be wary of the mass of “carpenters” and “handymen” that will descend on the area following the storm. Remember a few years ago with Katrina and other storms there were lots of people who went to the areas and price gouged people for shoddy repairs.
Also be prepared for a fight with some insurance companies.