Is Galveston Finished? (Dallas, Center, Anthony: rent, hotel, lawyer)

[C2H (ComingtoHouston)]

Originally Posted by jimboburnsy

Finished? Was America finished when the Germans bombed Pearl Harbor?

Galveston wasn't finished after the 1900 storm, which was probably the worst natural disaster in American history. New Orleans makes even less sense but people are trying to fix it and move back in. This probably means that Fertitta is going to have a field day (if he can get a loan, anyway).

Okay, but how long did it take to recover after the hurricane 1900? You think it'll take just as long to get it back to where it was Pre-Ike?

[Muhnay]

Are you kidding me.. Galveston will bounce back from this quick, and better than ever. They have the officials from Gulfport MS there helping they with a recovery plan.. and if anyone knows how to recover its Gulfport and Biloxi MS. This is an opportunity to make Galveston better, not the end of the road, but the start of a new journey. Dont fret.. Galveston is already on the way back. I lived in Gulfport Mississippi, and they strides they made there, and the improvements.. wow what they can do with Galveston will amaze everyone.

[Guntersville Boomer]

I've lived in Florida my entire life and we have endured many bad hurricanes and what has really been a key factor in what does and doesn't get rebuilt is insurance. There hasn't been much discussion on this yet but in Florida the insurers walked away years ago and would not insure anything on the beach so the state created an insurance company of last resort to help but it is very expensive and the coverage is not very good. But no one will finance anything for rebuilding without knowing it can be insured. Florida also has what is called a "CAT Fund" run by the state and it is funded with an assessment on EVERYONE's homeowners policies to help underwrite potential hugh insurance losses by insurance companies to be used at times when there could be so many losses that they end up putting an insurance company under. Was needed to keep private insurers here. I pray for everyone impacted by this hurricane, we have been thru it too and it is awful......

[Muhnay]

Originally Posted by Guntersville Boomer

I've lived in Florida my entire life and we have endured many bad hurricanes and what has really been a key factor in what does and doesn't get rebuilt is insurance. There hasn't been much discussion on this yet but in Florida the insurers walked away years ago and would not insure anything on the beach so the state created an insurance company of last resort to help but it is very expensive and the coverage is not very good. But no one will finance anything for rebuilding without knowing it can be insured. Florida also has what is called a "CAT Fund" run by the state and it is funded with an assessment on EVERYONE's homeowners policies to help underwrite potential hugh insurance losses by insurance companies to be used at times when there could be so many losses that they end up putting an insurance company under. Was needed to keep private insurers here. I pray for everyone impacted by this hurricane, we have been thru it too and it is awful......

Yeah they have the same deal in Mississippi..

[Lakewooder]

Originally Posted by kame

It was the Japanese that bombed Pearl Harbor

Really? Turn it down -- language.


http://wavs.unclebubby.com/wav/MOVIE...se/GERMANS.WAV

[Newk]

Wow, did you really say that the Germans bombed Pearl Harbor?

[Refugee56]

I suspect you should look at the beach towns that were destroyed on the Mississippi Gulf Coast to see what will happen. Many people in these towns were very poor and lived in shacks from the 1920s. If they were destroyed and the area rebuilt, then bigger nicer homes are coming in.

I think it will all depend on the insurance rates for new building also.

[Muhnay]

Originally Posted by Lakewooder

Really? Turn it down -- language.


http://wavs.unclebubby.com/wav/MOVIE...se/GERMANS.WAV

AHH Animal House.. what a good movie.

[momof2dfw]

No WAY is Galveston "finished". Not all of it was destroyed. Most of the condos and hotels along Seawall are still there with surprisingly "little" damage (term "little" being used in context with THIS storm). Real estate in Galveston had already seen a HUGE boom and rise in the last 5 years and I don't see this weakening it one bit. I'd be willing to bet this will INCREASE the real estate values on The Island. Tillman Fertitta has been sinking BIG BUCKS into Galveston for several years. He bought The Flagship Hotel (hit pretty hard) several years ago but the lease was still intact w/ that person NOT taking very good care of the place. He bought The Balinese as well and had GRAND plans for it. He also built the VERY NICE Convention Center on Seawall next to his other properties: The San Luis, The Hilton, The Rainforest Cafe, etc. One of the other new properties on The Island is Palisade Palms (Palisade Palms). A VERY NICE and high dollar property that has been selling well.

Ivan went thru Gulf Shores and plithered that place. I thought, "might be a good time to pick something up pretty cheap". NOT!!!! What happened is the older condos and developments that were hit sold and or tore down and nicer new ones built. Prices skyrocketed and have stayed steady. The same thing can happen to Galveston and with the close proximity to Houston and other cities in Texas.......... likely.

Older developments that are NOT "housing" related that were on the Seawall or anywhere on The Island that got destroyed may no longer be there and could end up in the hands of developers and something new there. This will be GREAT for Galveston. Increase their tax base and bring new life back into areas that had rundown and/or left abandoned. Towards the east end and around Stewart Beach these properties were evident. They sat on prime property but no one was doing anything with it. Just letting crumbling old buildings continue to crumble and bring blight to the area.

As for the single family homes that were washed away..........that is a different story. In some areas the first row to three rows of "beach front" homes were washed away and their "property lines" are now under water. Those owners will probably get their insurance money and be w/o a beach front home. Those that were 3 rows back and survived now have a beach front property (and they did not have to pay for it either - one positive for some people). I'd say those that rebuild are going to do so w/ a much better quality structure.

This could be the beginning to a new era for The Island.


Hmmm, wonder if Paris Hilton is going to go take a "look see" to check out the familys old homesteads

[Xcaped NOLA]

It will recover, but unless your wealthy, why would you keep rebuilding property that will get washed away every 5 years or so. I mean its their choice to live there, but its a traumatic experience to lose everything and then rebuild and face those same circumstances everytime hurricane season approaches.