Testing the Hypothesis, Part 1

Testing the Hypothesis, Part 1



Home owners in the Panama City Beach area are having difficulty repairing their homes after the devastation of Hurricane Michael.



· The who: Homeowners in the Panama City Beach Area



· The what: They are unable to repair their homes due to lack of funding.



· The why: The Hurricane damaged their property beyond affordable repair.




· Testing the who: I think the homeowners in Panama City are the ones who had extensive property damage and limited funds.



· Testing the what: I think those who didn’t have insurance, insurance didn’t cover, people with lack of funds are the reason the repairs still need to be done.



· Testing the why: I think the repairs become essential for those that are impacted in daily life due to the devastation.




The first family I interviewed was completely unsure how to get the repairs done to their house and afford these repairs. They are currently living with roof damage, water damage, electrical repairs, window repairs and several other repairs that make day to day life difficult. There biggest problem seems to be not knowing their options. At this point if they make the repairs it will take all their funds and it wont even complete the repairs. Even with the assistance they received from FEMA, local donations and a small donation from the red cross it does not repair all the damages that they have. They have considered selling their property but the repairs they feel like must be made for them to receive their price. At this point they need funds and advice.







The second person I spoke with was an investor who purchases homes. He said the damages would not detour him from selling the home at a discounted rate. He did recommend that having a home with extensive damage was worth getting rid of. He said that your price could still be meet with creative owner financing. By charging interest on the property you could sell the property as is with a balloon payment at the end of the term and still receive a profit. At this point the repairs were not necessarily a problem and there was still a way to remove yourself from the situation, be able to get a price and be able to get into a different property.







The third person I spoke with is a mother of six. When her home was damaged from the storm the landlords sold the property and issued a 48-hour eviction from the sheriff’s office. She was considering staying in a tent downtown, but the sheriff said she would go to jail if this was done. Fema was unable to help since they needed to provide a legal lease and the property was sold and she was unable to acquire a legal lease at the time. With no other options she found herself and six children living in a shed. Her biggest problem was trying to keep the children warm in the shed. She has four heaters but there is not insulation to prevent heat from escaping. She was able to get a propane heater but could not afford the propane to heat it. She reached out to individuals online and was able to acquire donations to get propane. She is currently on an Amazon wish list to help purchase supplies such as paneling that would help insulate the shed. Her husband just received a new job in Panama City and received a truckload of insulation. At this point her main issue is day to day living.







The forth person I talked to spoke is currently living in a hotel in Panama City Beach. The problem she is having is the hotel owners have given them notice that they will need to leave the property February 1st. She commented that many displaced individuals were forced to live in hotels after the hurricane devastated their property. The hotels and condos in the area are preparing for tourist season. With the economy of the city dependent on tourism for years they are custom to driving rates higher in the spring and summer. This is forcing those that were impacted by the hurricane to leave the hotels and look for other places to live. She and many others are very upset about this situation and have an immediate need to find shelter.







The final person I spoke with is legally blind, her and her husband are both disabled. They have been asked to leave the home they are currently living in which is temporary housing. They have found another home, but it is taking all of both of their disability to checks to get in and pay first months rent. They need donations to put deposits down for electric and water. They are also in need of food since they are spending all their money on getting another place. They have two dogs, so they are looking for dog food as well. They live on a limited income and while they were able to find another place they will not be able to afford basic human needs for the month of February.







Conclusion:



I found that many people’s homes were indeed devastated by the hurricane. This is causing a huge need for affordable housing, repairs and basic survival needs. It seems like most people that experienced property damage during the hurricane are still struggling. Everyone’s situation is different but there is a huge need here. The need goes beyond just basic homeowners but also people that rented their homes, were displaced to hotels, were displaced to sheds or placed in temporary housing. These people are all struggling with shelter and basic needs. I think the scope of the disaster lies beyond just homeowners. While many investors see this as an opportunity to profit there is also a need to assist those who are struggling with the aftermath of the damage. Finding out how many people are still suffering was heartbreaking and there is a huge need to help these people.