Appliances were also in high demand; most homes that took on water had to throw out all of their downstairs appliances. During the tear-out phase, it was an endless sea of washers and dryers, dishwashers, stoves and refrigerators strewn across front yards. Once rebuilding is complete, there are a lot of appliances to be replaced; which will again bode well for the retailers; Home Depot, Lowe's,
to name a handful; not to mention manufacturers such as
. With a lot of kitchens also in need of replacement,
(MAS - Get Report)
whose products include Kraftmaid cabinets, should also be seeing a lot of business in the Northeast.
The refurbishment of homes is just the beginning, at least on our little island, and I'd suspect for much of the Jersey Shore. Given the extent of the damage, many homes, including ours, will be required to be raised above base flood elevation levels.
In a nutshell, if the damage to your home was more than 50% of the value (the replacement cost new, per the tax assessor, which is typically a very low amount as it does not include the land value), the home needs to be raised on blocks or pilings. With flood insurance rates set to skyrocket, especially for homes below base flood elevation levels, there's extra incentive for homeowners to raise their homes. That will result in the sale of massive quantities of concrete blocks, and other supplies over the next four years, which is how long we have to comply.
We've come a long way in the past six months in many of the areas affected by Sandy, but there are still a lot of people without primary residences. We've had it easy by comparison.
At the time of publication, the author held no positions in any of the stocks mentioned.
This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.