FEMA to Pay for Evacuee Housing
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The Daily Texan is reporting that FEMA will be paying out this week $2,358 to every household that qualified for housing subsidies.
The program, which was initiated Friday, provides an initial $2,358 to eligible households to pay for three months of temporary residence. The figure is based on the national average for fair market rent of a two-bedroom unit.
After the first three months, FEMA offers a recertification program where households may reapply for a total of 18 months of aid.
“We make sure the individual is actively engaged in finding a permanent residence,” said Barbara Ellis, FEMA spokeswoman. “At some point they are going to have to resolve their housing issue and move into a permanent location.”
Over the weekend, FEMA reported 260,000 eligible households and anticipates a total of 600,000. Those who applied on the FEMA Web site will receive a check in five to seven business days, Ellis said.
This should provide a nice foundation for the rental real estate businesses throughout the southeast.
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Tom,
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Edward
Thanks for the clarification. Great stuff!
Tom 
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Pingback by Scared Monkeys » » The Media wants Katrina to Last Forever, or at least 3 more years on 3 October 2005:
[…] With the necessary relocation of so many people, the property values of the rest of the southeast have been seeing a huge increase, as the housing supply is very low. That, combined with a huge speculation market in the affected areas, and the huge coming influx of federal and state relief dollars, will create a positive impact on the economy of the country. […]