In a recent survey of residents in Nueces and San Patricio Counties, respondents said they were happy for the recent industrial growth in the Coastal Bend. Development of shipping channels and the infrastructure to support them creates a steady supply of good jobs, many of them say. However, despite all the new jobs, researchers and leaders alike recognize there's a problem:
There's nowhere for those workers to live.
The chief reasons the housing supply is so low is Hurricane Harvey. The destructive winds damaged thousands of housing units (both for renting and for buying), reducing a great deal of the available housing stock in the area. Iain Vasey, the president and CEO of Corpus Christi's Regional Economic Development Corporation, says that at the rate people will need housing vs. how many new houses are built in the region, the Coastal Bend is short by 1,000 to 1,500 homes every year.
He adds that in addition to new houses, there is an immediate need for new apartment buildings. With people still rebuilding their homes after last year's hurricane season, the housing market will only continue to get more expensive.
Business owners and leaders from other areas of the Coastal Bend believe that the rebuilding process has mostly been slowed down by two things: the lack of contractors, and insurers delaying claims. Jeff Hentz, the president and CEO of the Port Aransas Chamber of Commerce, says that available housing in the tourism center is lower than even his recent estimates were saying—and he believes its because of delayed insurance claims.
If you lost your home or your business in Port Aransas, Rockport, or Corpus Christi and your insurer isn't budging on your windstorm claim, call our Hurricane Harvey law firm. We have the resources to put pressure on your insurer to do what they promised: help you rebuild.