Despite damaging around half a million homes, Hurricane Katrina had no discernible impact on home sales or housing starts in the South compared to other regions. Accordingly, we are not expecting a large impact on housing market activity from Hurricanes Harvey and Irma. That said, repairing damaged homes will only make the current labour and material shortages in the homebuilding industry worse, and that will do nothing to improve the shortage of homes for sale.
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