Biloxi Boom!?

Friday, October 28th, 2005

If you look hard enough, you can often find a silver lining. From Biloxi Boom!?:

Land prices in Biloxi are up. The reason? Mississippi is a poor state and so historically even homes with water views were modest. When the coast boomed, due to gambling and tourism, the land became a lot more valuable in alternative uses like hotels, casinos, and vacation homes for the rich. But it’s costly and takes a long time for developers to buy up small lots and bundle them into bigger packages. The hurricane, however, acted like nature’s form of eminent domain. With the small houses destroyed there are many sellers, bundling is becoming easier, and everyone expects that zoning will be changed to favor the developers.

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