Sandy’s Impact on Home Building

Work for contractors and builders with remodeling capabilities is likely to see a lift in the coastal areas affected by Hurricane Sandy in coming weeks and months, according to a Bloomberg article that discusses the storm’s impact on construction and housing. “It’s the most adverse way you ever want to see positive growth,” said Tom Jeffery, chief hazard scientist for CoreLogic. However, that growth is expected to be accompanied by increased labor costs in areas now focused on rebuilding. New-home purchases also are likely to be delayed in the mid-Atlantic region “until the Thanksgiving holiday and beyond,” Bloomberg reports. See the full article here.