Homeowners stay put in New Orleans

Jean Guccione and Doug Smith of the Los Angeles Times analyzed data from the Small Business Administration, the federal agency primarily responsible for disaster reconstruction loans, and found that of more than 150,000 homeowners and business owners approved for the loans, 2% were transferring the money to a new property in New Orleans. "Most New Orleans-area property owners seeking government aid for hurricane damage are showing a strong preference for restoring their old neighborhoods rather than take the money to seek new horizons." Records show that although federal and state recovery programs offer aid to those who choose to relocate, few applicants have requested it.

NOTE: Several SBA databases, including business loan data, are available from the IRE and NICAR Database Library.