In a normal situation it would depend on the soil and the foundation, as you could dry out the wood and fasteners. In Houston they all will have to go.
That will amount to an unbelievable disaster. It really makes you wonder how many will actually attempt rebuilding, or just take the money and run? If you do have flood insurance, and your home needs to be torn down and rebuilt, why do it there? Yeah, you'll be out the cost of the lot. But something tells me real estate land prices aren't going to be worth much around that area for a long time to come.
I bet if you wanted to buy a lot in the old Lower 9th Ward in New Orleans, they would practically give it to you. Assuming there are even utilities available there any more. There are a lot of areas in Houston that will now have much the same fate. Especially all of these developed areas that were heavily flooded, that were all located downstream from the release points of these big reservoirs. They are saying Barker and Addicks reservoirs could take over
2 months to drain. Those houses flooded by the release of all that water, will all be under contaminated, stagnant water for months to come. And most will have no chance to be rebuilt. And that's a LOT of homes. It's the same, or even worse for Beaumont and Port Arthur.