Gauche. Gauche as hell. This is the most appropriate term we can find to describe today's article in Dow Jones Market Watch, which suggests that the current national disaster plaguing Southern California may have a positive impact on its housing market, one of the most beaten down in the country. Predictably enough, the piece cites the post-Katrina rebuilding of New Orleans (but not, curiously, Lower Manhattan redevelopment efforts following the September 11th attacks). Yes, the fires will most likely impact the Southern Californian housing market, economically speaking. Perhaps we might wait until FEMA
jacks everything up again swoops in and saves the day— or even until the fires are extinguished— before scrambling to weigh the housing supply against demand?
· Could Calif. fires draw a line under housing crash? Commentary: Natural disasters can have a perverse economic impact [Dow Jones Market Watch]
Image courtesy SF Gate