This is insane. "ocean front" property in Biluxi is selling like hotcakes. Nevermind this properity is just a bunch of toothpicks.

Kim Weatherly, a 50-year-old casino worker who lives in Biloxi's Point Cadet community, is watching it all with a heavy heart. The neighborhood is potentially the city's most valuable piece of property, sitting on a peninsula that juts into the Gulf of Mexico that's a center for casino gambling.

So let me get this straight. Tons of people, apparently, want to rush into Biluxi, buy up homes near the shore and near gambling? Even though that property is in no way safe for hurricanes? And who wants to live next to a casino? Gambling addicts?

Call me crazy. On a related note I hope the influx of Katrina evacuees will bump up my condo price somewhat. Dunno if that will actually happen though. At least Houston is mostly safe from hurricanes. Seems like a direct hit is a once a generation thing, unlike florida or louisiana.

He'll buy storm damaged property or nearly vacant lots for next to nothing. While real estate brokers find top-dollar buyers, Triplett makes cash deals or pays off mortgages in exchange for land.

"I deal with the other part of the spectrum of the market: people who don't necessarily care to get full price but they need to sell quickly," said Triplett, who said most of his post-Katrina business has come from retirees and those who lost their jobs.

Lovely. So this vulture capatilist is willing to buy the worst affected peoples demolished homes, and resell it for large amounts of money? What a nice guy. Yes, i know, someone has to be the protozoan of capitalism.