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is real estate in NO going to be dirt cheap, once the water is pumped out?
- Thread starter Devastation
- Start date
mrhoon
New member
Real estate in NO was insane when I was there last winter. Near the garden district, an area called Uptown, shacks falling over with termite and water damage were selling for 100k. No shit. Other areas, same house, 30k, but YOU wouldn,t want to live there, and you better hire labor from the neighborhood if you don't want it burnt down. Florida gets hit yearly and after last year, real estate dropped. But do you want to build there?
gjohnson5
New member
mrhoon said:
If it were a second house , absolutely...
The locals need to put more funding into the levees evidently so this means taxes...
But the way to even the cost of this out would be increasing the taxes on casinos , hotels , restaurants. If you're gonna charge someone $50 for a steak @ Ruth's Chris or $50 for some barbeque shrimp at Pascal Manale, then just charge them 55 and put $5 into the levees...
Locals don't eat at them places anyway...
it's a liberal point of view , but I'm a liberal
gjohnson5
New member
If you all are looking to make $$$ off hurricane katrina , which sounds bad but people with money really do need to go in there...
http://www.mardigrasday.com/mardigras/schedule.php
Look at this mardi gras schedule and click on the "krewe" links. The "krewe" link will show the parade routes of mardi gras. This will tell you were you can make $$$ off real estate. Anything around a parade route means people will come from out of town and rent a place just so they can get drunk for a few days... If you can find buyers then these places , then they will make $$$ just from these few days of the year.
And this also includes bayou classic, jazz fest , essence fest , sugar bowl , super bowl (prolly shouldn't include that event as those people are loaded anyway) maybe holloween but every day is halloween with those goth in the quarter...
Anyway look for openings around the parade routes.
http://www.mardigrasday.com/mardigras/schedule.php
Look at this mardi gras schedule and click on the "krewe" links. The "krewe" link will show the parade routes of mardi gras. This will tell you were you can make $$$ off real estate. Anything around a parade route means people will come from out of town and rent a place just so they can get drunk for a few days... If you can find buyers then these places , then they will make $$$ just from these few days of the year.
And this also includes bayou classic, jazz fest , essence fest , sugar bowl , super bowl (prolly shouldn't include that event as those people are loaded anyway) maybe holloween but every day is halloween with those goth in the quarter...
Anyway look for openings around the parade routes.
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never seen so much bad info on NOLA real estate or the city in general.......i should no i live there and make my main living off rentals
#1 you will find no house in the metro area area for $20-$30k,nor have you for the last 8-10yrs,nor will you even find an empty lot for that amt,even post katrina....the real estate mkt has been on an 8-10yr upswing and this will not slow it down commercially or residentially.
#2 in most areas of the cityand metro area,figure a 2000sqft home to start at approx $250k-$300k,yes even after Katrina...some homes that didnt flood have already gone on the mkt for double the price and yes people will pay it,some already have
#3 looking at parade routes is absolutely no indicator of home value,never has been,never will be
#4 the 9th ward area that flooded twice and made so much news is a toilet,was a toilet and has been a toilet for about 35yrs now....the people who lived there did not own,paid no property tax and lived strictly off th welfare system,a shining example of why it should go away....most who lived in that area pulled 6-7k/month thru govt assistance and lived there under Sec8 for $70 and a subsidy every month.
#5 the hardest hit area,lakeview,flooded form the 17th st canal break and will suffer no appreciable loss in property value,its the area of highest tax base for the city and those people will return,rebuild and continue on with their lives,unfortunaltely its not newsworthy because whites live there and the pathetic shitsack of a patronizing ignorant mayor can use it to play the race card.....values will most likely rise there because now people in that area will take the ins money,rebuild,and add refinancing to that to build better homes ie the home they want than they had before.
#6 the city will be a better place,90% of the 250k that left/will leave never have nor ever will be contributing factors to the city or its economic structure,they have done nothing but be parasitic takers from the system that spent years dragging the city and its educational and system down, as well as its pool of qualified workers,nor will they ever contribute to the cities that have taken them in....merry xmas and good riddance.
#7 new industry will come into the city as a different class of people move in,and the city rebuilds,it happened in south florida after andrew andl ast year in fla after their 4 storms,pvt money as well as govt money will pour in,developers have already started and each industry contains several sub industries. The primary reason certain neighborhoods capped off in property value was because one block away,you had festering housing projects or other govt subsidized living ...those days are over now and the opp for development inthose areas is huge.
#8 Hertz controls a big portion of some key downtown real estate,and wont pull out,so does trump......commerically it will be more attractive than before becasue it wil be less expensive per sqft to lease and that will bring more people in for longer terms
#9 will it stil lbe a 'buyers mkt' to a degree? yes,because there will be those who simply take the insurance money and walk away from property,mostly older residents resistant to change and to a degree those with small school age children....look for the citites make up now to be in the 25-50 range,mostly on the middle to upper middle class range.
#10 will real estate investment in the entire metro area be a wise decision for the forseeable future? hell yes
#1 you will find no house in the metro area area for $20-$30k,nor have you for the last 8-10yrs,nor will you even find an empty lot for that amt,even post katrina....the real estate mkt has been on an 8-10yr upswing and this will not slow it down commercially or residentially.
#2 in most areas of the cityand metro area,figure a 2000sqft home to start at approx $250k-$300k,yes even after Katrina...some homes that didnt flood have already gone on the mkt for double the price and yes people will pay it,some already have
#3 looking at parade routes is absolutely no indicator of home value,never has been,never will be
#4 the 9th ward area that flooded twice and made so much news is a toilet,was a toilet and has been a toilet for about 35yrs now....the people who lived there did not own,paid no property tax and lived strictly off th welfare system,a shining example of why it should go away....most who lived in that area pulled 6-7k/month thru govt assistance and lived there under Sec8 for $70 and a subsidy every month.
#5 the hardest hit area,lakeview,flooded form the 17th st canal break and will suffer no appreciable loss in property value,its the area of highest tax base for the city and those people will return,rebuild and continue on with their lives,unfortunaltely its not newsworthy because whites live there and the pathetic shitsack of a patronizing ignorant mayor can use it to play the race card.....values will most likely rise there because now people in that area will take the ins money,rebuild,and add refinancing to that to build better homes ie the home they want than they had before.
#6 the city will be a better place,90% of the 250k that left/will leave never have nor ever will be contributing factors to the city or its economic structure,they have done nothing but be parasitic takers from the system that spent years dragging the city and its educational and system down, as well as its pool of qualified workers,nor will they ever contribute to the cities that have taken them in....merry xmas and good riddance.
#7 new industry will come into the city as a different class of people move in,and the city rebuilds,it happened in south florida after andrew andl ast year in fla after their 4 storms,pvt money as well as govt money will pour in,developers have already started and each industry contains several sub industries. The primary reason certain neighborhoods capped off in property value was because one block away,you had festering housing projects or other govt subsidized living ...those days are over now and the opp for development inthose areas is huge.
#8 Hertz controls a big portion of some key downtown real estate,and wont pull out,so does trump......commerically it will be more attractive than before becasue it wil be less expensive per sqft to lease and that will bring more people in for longer terms
#9 will it stil lbe a 'buyers mkt' to a degree? yes,because there will be those who simply take the insurance money and walk away from property,mostly older residents resistant to change and to a degree those with small school age children....look for the citites make up now to be in the 25-50 range,mostly on the middle to upper middle class range.
#10 will real estate investment in the entire metro area be a wise decision for the forseeable future? hell yes
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