By Editor|2022-02-15T17:42:17+00:00February 15th, 2022|Comments Off on Hitting Home: The economic effects of natural disasters on affordable housing can greatly slow recoveries

Hitting Home: The economic effects of natural disasters on affordable housing can greatly slow recoveries

Affordable housing is often the hardest hit during disasters, as it tends to be in less desirable locations which are more prone to flood, subject to pollution or contamination from surrounding industry, or of older stock built to since obsolete standards. Research shows that these areas are not only more likely to suffer damage, but also to take longer to recover, which can have significant effects across the entire community, with recovery taking two to three times as long as in areas with more expensive properties, according to an article in The Conversation.

This delay in recovery can also slow the return to normal for businesses, with many residents of affordable housing finding themselves unable to find suitable homes, forcing them to move elsewhere. In the case of Rockport, Texas, after Hurricane Harvey, many businesses struggled to reopen, as their workers were forced to relocate to other cities when their homes were rendered uninhabitable. Further pressures are often placed on affordable housing, with developers choosing to replace it after a disaster with newer and more expensive housing stock, forcing out renters from their communities.

By working to ensure the recovery of affordable housing in disaster hit areas, the resilience and vitality of residents, businesses, and communities can be greatly improved.

Source:

https://theconversation.com/disasters-can-wipe-out-affordable-housing-for-years-unless-communities-plan-ahead-the-loss-hurts-the-entire-local-economy-174880

Share This Story, Choose Your Platform!

About the Author: Editor