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What Hurricane Harvey Means for the Remodeling Industry and How Texans Will Weather the Storm

Posted by Matt Ates | September 25, 2017

What Hurricane Harvey Means for the Remodeling Industry and How Texans Will Weather the Storm.jpgOpening Thoughts

Hurricane Harvey is the most powerful storm to have hit the United States mainland in over 12 years, and though the immediate danger has passed, the ramifications of the damage remain. Initially, the storm meant major evacuation into surrounding cities and states. Now, with hundreds of homeowners returning, it means a massive attempt to clean up the devastation. With all the damage to homes and public buildings, how has Harvey impacted Texas’s remodeling industry, and can it be expected to recover?

The Devastation

Although the total cost of repairs associated with Hurricane Harvey has yet to be calculated, some predict that it may be the costliest hurricane in U.S. history, with overall damage estimated at $190 billion. We’ve distilled a few statistics about this hurricane below.

Hurricane Harvey dumped 50 inches of rainwater, or 19 trillion gallons, on Texas in just 5 days. That’s enough volume to cover all of Alaska, California, and Texas combined with approximately 1 inch of water. 6 million people saw over 30 inches of rainfall, and Red Cross reports that over 17,000 people were displaced into shelters during the deluge. All in all, Hurricane Harvey deposited more rain on Texas than any other tropical storm or hurricane in U.S. history.

Home Improvement Store Share Increases

A large amount of money is being allocated to the reconstruction of personal, public, and business buildings. In fact, according to CNBC, shares of Lumber Liquidators rose 3.6%, shares for Lowe’s climbed 1.2%, and shares for Home Depot rose 1% as a direct result of repair purchases after Harvey’s enormous deluge.

General Contractors Called On

Houston residents are purchasing the equipment and materials necessary to make repairs, but personnel is still needed to perform reconstruction. A massive amount of debris must be removed before general contractors can enter to reinstall foundations, flooring, drywall, sheetrock, and plumbing and electrical systems. Skilled personnel have never been as needed as now, and it’s certain that Houston will have to pull in remodelers from surrounding areas to help rebuild their city.

Texan Resilience

The good news for Houston is that their city and their state have already exhibited remarkable resilience alongside a willingness to band together in time of need to offer any relief that is within their power to give. Emergency personnel have been on call 24/7 since the flood began, and charitable relief efforts from outside the state are still underway.

But the most remarkable stories of the flood come from ordinary civilians heroically extending help however possible. Even with the extreme demand that will soon be placed on the Texas remodeling industry, it’s safe to say that the past provides hope for a favorable future: Texans’ strong communal spirit will give them the tools they need to pull together and weather the aftermath of Hurricane Harvey with the same degree of resilience they have exhibited all along.

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