Hurricane Sparks Gulf Coast Real Estate Frenzy

Katrina Boom or Bust

BILOXI, Miss. (AP) - Rubble piles bear "For Sale" signs. Homes without roofs are being sold as-is. Placards announcing "We Buy Houses, Cash!," are posted on corners throughout middle-class neighborhoods.

The Mississippi coast, wracked by Hurricane Katrina, is caught up in a real estate rush, as speculators and those looking to replace their own wrecked homes pinpoint broken and battered waterfront neighborhoods. In the weeks since the hurricane, prices of many homes - even damaged properties - have jumped 10 to 20 percent.

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Topics: news and politics, current events, Gulf Coast, Hurricane Katrina, Biloxi Mississippi