The new Mississippi Bubble?

My Way News:

"The Mississippi coast, wracked by Hurricane Katrina, is caught up in a real estate rush, as speculators and those looking to replace their own wrecked homes pinpoint broken and battered waterfront neighborhoods. In the weeks since the hurricane, prices of many homes - even damaged properties - have jumped 10 to 20 percent."

We've been waiting for real estate prices, especially in trendy areas like seacosts (but also San Francisco, Baltimore, etc.) to collapse as interest rates have edged up and now we find prices going up in the wake of Katrina. For those who have lost so much and haven't enough insurance to rebuild, I suppose this is good news and I wish them well. But, there is something sad about blue collar communities, some with generations of history, now gone forever.