Damage Estimates For Isaac Raised To $36 Billion

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Along with whatever setbacks Isaac has caused to the Republican National Convention in Tampa as it crosses the Florida Keys into the Gulf of Mexico, estimates of property damaged which could be triggered by the system have been raised as high as $36 billion–if it becomes a Category 2 Hurricane–according to research firm CoreLogic. The storm has already done tremendous damage to Haiti and Cuba

"It's clear now that Isaac is heading into the Gulf, and according to recent forecasts, will potentially make landfall as a Category 2 hurricane," said Dr. Howard Botts, vice president and director of database development for CoreLogic Spatial Solutions. "Though the forecasted path is still changing, at this point, Isaac seems to be poised to strike the southwest coast of Florida late Sunday as a tropical storm and move on land as a Category 2 hurricane early Wednesday. The current cone of uncertainty puts the coast of Louisiana, Alabama, Mississippi and Florida at risk. Major metro areas that could potentially feel the impact of hurricane-driven storm surge include.; New Orleans, La.; Biloxi, Miss.; Pascagoula, Miss.; Mobile, Ala.; Pensacola, Fla. Panama City, Fla.; and Ft. Walton, Fla., depending on where the storm makes landfall."

Damage in New Orleans, which has still not entirely recovered from Katria, could research $30,437,136,681 the CoreLogic analyse forecasts

Douglas A. McIntyre


Filed under: 24/7 Wall St. Wire, Economy Tagged: featured
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