LA PORTE, Texas—The damage Hurricane Ike caused will run into the billions of dollars and some experts say, on average, households may recover only about half their losses.

Robin Spigner is a La Porte homeowner who is still dealing with massive damage to her home and property.

“(There’s damage) in the living room suite. We have big screen TVs that are damaged. If you move them you can hear them sloshing,” she said.

A few miles away Patricia Hefley is dealing with destruction at the Diary Queen restaurant she owns.

“Its pretty bad, really, really bad,” she said.

People who work in heavily damaged businesses are also feeling the heat.

Many are wondering when they can return to work.

AP photo

Despite the damage, experts say that the storm could also bring new wealth to our area.

“Houston’s going to see a major increase in money flowing in, both from terms of insurance claims and disaster relief. That’s going to last up to two years,” said Douglas Woodward. He’s an economist at the University of South Carolina School of Business.

Woodward conducted a study after Hurricane Hugo hit Charleston in ‘89.

“It came back as a better city,” said Woodward.

He says millions in insurance checks funded spending sprees to replace all those damaged household items.

Millions more poured into that local economy to rebuild coastal homes, often to better standards.

Woodward said older homes got facelifts they otherwise might not have.

Local realtors who are looking at coastal properties now expect an up-tick from Hurricane Ike.

Michael Weaster is with Century 21. “And the fact that the ones that didn’t get destroyed are going to sell and sell quick because they’re limited.”

“People love living along the coast. I guarantee they’re going to be back. They’re going to rebuild,” said Woodward.

Woodward’s hurricane study showed that households recovered only 45 percent of losses in South Carolina.  That was the average.

The reason, Woodward says, is that many people, especially those with lower incomes, had inadequate insurance or no insurance at all.

In those neighborhoods, researchers found recovery came more slowly and sometimes not at all.

And with the current financial crisis now, there is doubt how much help we’ll get from the government.

So what does this mean to the people in La Porte?

At the DQ, insurance is not only covering the damage, its also paying their 16 employees so they won’t take jobs somewhere else.

Meanwhile, Robin Spigner says she’s confident her insurance will cover repairs and a shopping trip to replace ruined TVs and bedding.