New Orleans was the most immensely economically devastated area by Hurricane Katrina. The entirety of the storm caused $100 Billion in damage. 7 million gallons of oil were spilled across the region by the storm, causing not only environmental problems, but it also caused gas prices to soar. So many homes were completely destroyed and were unable to be rebuilt due to costs, that many people decided just to simply leave and start a new life somewhere else. Many more homes were flooded so much that it cost owners unbelievable amounts of money and effort to fix the issue. Because people were leaving, this caused unemployment rates to soar to 11.5% due to lack of jobs. Additionally, in all areas that were affected by the storm - especially New Orleans - the price for home insurance increased drastically.
This Can Happen Again
Hurricane Katrina was not a one time thing. More hurricanes happen every year, and another one can happen that is as strong, or even more powerful than Katrina. That means that even though people are rebuilding and recovering in New Orleans and other areas, all their effort can be for nothing. People need to be prepared for another storm by protecting their homes with hurricane shutters and other useful items. They also should try to have home and flood insurance if possible. Lastly people need to be prepared to have to evacuate the area if necessary. It is better to lose everything but be able to walk away with your life.