The New Orleans-Katrina Case for New Federal Policies and Programs for High-Risk Areas

Authors:
John S. Baen
Sofia Dermisi

Start Page: 229
End Page: 252
Volume: 15
Issue Number: 2
Year: 2007
Publication: Journal of Real Estate Literature

Abstract: This paper reviews the federal government’s programs and policies and how these
policies encourage urban growth in areas having relatively high risk potential for recurring natural disasters. While Federal Emergency Management Agency (FEMA) and local authorities respond to emergency situations during crisis events, this paper explores the concept that such disasters, and additional emerging loss of life and property, could be avoided through changes in current federal government programs and policies. A cycle of federal programs which perpetuates urbanization of high-risk areas (hurricane, flood, and earthquake areas) is offered as well as insight on residential value trends of previously flooded areas highlighting that building or rebuilding in areas which place the public or public tax payer funds at greater financial risks does not exceed the long-term benefits.