[supercat]

3. From a political standpoint, I don't think anyone who looks at the situation objectively would even want to see New Orleans rebuilt. This is mainly because from this point forward it could only function as a massive public works project that turns into a city in which the government owns 100% of the land. Just think about this for a moment . . . the most far-reaching implication of this disaster is that land titles in a city below sea level are basically worthless. This means that no prudent investor will ever buy a piece of property, no bank will ever extend a mortgage without extensive government guarantees, and no insurance companies would underwrite a property/casualty policy in a rebuilt New Orleans.

What about building homes on stilts, as is done in other hurricane-prone areas?

[Alberta's Child]

What about building homes on stilts, as is done in other hurricane-prone areas?

Most of these are vacation homes (even if they are very expensive ones) in areas where there is no real expectation for big-city amenities. I couldn't imagine a scenario in which it would make any practical sense to build an entire city of more than a million people in this manner.

[Doohickey]

Here are before and after pictures of the Atlantic House restaurant, on Folly Beach, SC. It was built on stilts too.