With Hurricane Katrina impacting the entire nation, a big question still looms, How will real estate investing be affected? The hurricane not only impacted the petroleum industry but the commodities industry, like grain, as well. The impact was estimated to have hurt more than 600,000 jobs. Without jobs, how are bills paid, and how can a city then collect taxes? The problems go to the top of the chain, not just the residents. As you can see a few other issues are still among those that were affected.

The real estate market in the affected areas has been crippled. The once established area, full of industry and gambling is on a much needed rebound. This rebound is at a time of total desperation, and another set back could be devastating. For those investors that were looking to cash in on the government foreclosures or HUD properties they must now rethink their position. The HUD/FHA market is nonexistent at this time. Due to the damage and abundance of homeless families, HUD has gathered their properties and offered them as shelter for the victims. There is no set time on how long things will take to iron out in that part of the country, but we can only wish them the best and keep them in our prayers.