May
25

Home Builders Must Step Up After a Natural Disaster

May 25, 2011

Recently I was to give a talk about the economic impact of home building in Joplin, MO.  However, a few hours before I landed, a devastating tornado destroyed 2,000 buildings and heavily damaged one-third of the city including the hospital, high school and many neighborhoods.  In all, over 120 persons were killed.  After a harrowing flight from Chicago filled with turbulence, lightning and the darkest clouds this East Coast economist has ever seen it was great to land.  I was, however, so shaken from the flight and from what I saw I was unable to articulate a cogent thought and putting one foot in front of the other was about all I could do.

Interestingly, this was my second recent frightening run-in with Mother Nature.  About 10 weeks ago, I was on the Oregon coast having given a talk at an HBA there.  At 5:30 the next morning, I was woken by the hotel manager and informed that there was a tsunami warning and that I might wish to evacuate; needless to say, I did.  Luckily that warning was unnecessary.  In Japan, however, it was a very different story.

homes in ruin

Homes throughout Joplin, Missouri were recently destroyed thanks to Mother Nature.

To me the most poignant part of natural disasters is hearing survivors talk gallantly about rebuilding their destroyed homes and neighborhoods.  No one cries about a car, boat, iPhone or credenza that was destroyed; they are all easily replaced.  Yet, people regularly weep when surveying the wreckage of their destroyed home.   This is because homes are repositories of memory and because homes speak to the importance of place.  And our place and our memories intimately revolve around our homes.  Thus, the profound desire to rebuild even though moving away is so much easier.

Joplin has suffered immense physical and psychological damage.  It is now our turn, the turn of the home builders, to help make these communities whole and give them back part of what was brutally taken from them.  In my speeches as an economist, I regularly point out the number of jobs created and the amount of tax revenue generated by home building.  But, to be honest, that misses the bigger point.  What rebuilding homes in Joplin and New Orleans and Memphis does is offer people and communities hope about the future, comfort that they are part of it, and validation of their lives.

The next time I give a speech I will make these points, I will share this story and I will be more proud to be part of this great industry than I have ever been.

Elliot Eisenberg, Ph.D. is an economist with the National Association of Home Builders and looks forward to hearing from you.  He can be reached at (202) 266-8398, on his cell at (202) 306-2731 or by email at eeisenberg@nahb.org.

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About The Author

Read All Stories By Elliot Eisenberg

Elliot Eisenberg, Ph.D. is a nationally acclaimed economist and public speaker specializing in making the arcana and minutia of economics fun, relevant and educational. He holds a B.A. in economics with first class honors from McGill University, as well as a Masters and Ph.D. in public administration from Syracuse University. Dr. Eisenberg, formerly a Senior Economist with the National Association of Home Builders in Washington, D.C., is a frequent speaker on topics including: economic forecasts, economic impact of homebuilding, consequences of government regulation, cost-benefit analysis, prudential use of financial derivatives, strategic business development and other current economic issues.

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