5 Years After Katrina, New Orleans Housing Still Suffering

On the fifth anniversary of Hurricane Katrina, the winds of change are still blowing in the Big Easy. The affordability of housing in the New Orleans area is worse than ever, due to the enduring damage of Hurricane Katrina. Thanks to the high costs of rebuilding apartment buildings and insuring them -- in a place where most residents are still poor renters -- New Orleans' rents are unaffordable for many. The median rent for a two-bedroom apartment has risen from $661 pre-Katrina to $982 per month. Many former residents have moved to the relatively affordable suburbs