Eeconomic growth could slow because of housing deficiencies in hurricane-ravaged New Orleans metropolitan area. a new Study by an economics professor at Louisiana State University says it will take about 50,000 housing renovations per year over the next three years to counter the projected shortage.
The study, supported by a research fund of the Financial Services Roundtable, reports that 71 percent of the damaged housing stock in the area must be renovated over the next three years to accommodate projected job growth, in addition to the new building  of an estimated 13,500 new homes each year. The financial services roundtable is a forum for U.S. financial services companies, and its members include major mortgage, banking and insurance companies.