Hurricane Harvey will go down as one of the major hurricanes in our lifetimes, thankfully most experts predict that the Texas economy will remain strong after this disaster and those areas affected by the hurricane will recover.
“When (Hurricane) Katrina hit New Orleans, it was never a really fast-growing market, and to my knowledge, New Orleans hasn’t totally recovered,” said James Gaines, chief economist at Texas A&M University’s Real Estate Center, “but an area that has been fast-growing and has all the same ingredients that were spurring that growth before will generally overcome (a natural disaster.)”
When Hurricane Ike raged through Houston, it was 2008 and the metro area was close to a million people smaller.
Today, it’s one of the fastest-growing metro areas in the country. Corpus Christi’s population, too, has risen steadily in recent years.
Texas’ cities and their ballooning suburbs have been on an economic tear.
Read more at Dallasnews.com
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