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re: Where does the money come from to support home prices in Lakeview?
Posted on 4/3/22 at 11:27 pm to notiger1997
Posted on 4/3/22 at 11:27 pm to notiger1997
quote:
Mid City
After years of renting my parents finally bought a house in midcity in the late 1990s $55K, they doubled their money in 2004
It just sold a year or two ago for $350K
2
Posted on 4/4/22 at 8:23 am to GreenRockTiger
quote:
After years of renting my parents finally bought a house in midcity in the late 1990s $55K, they doubled their money in 2004
It just sold a year or two ago for $350K
Bought my current house in Mid-City in 92 and paid $54K for a 2 story 3200 sq. ft. house. Could probably sell it within a week of going on the market in the $400K range. It's totally insane right now.
If the wife was retired, I'd sell in a heartbeat, take the money and pay cash for a nice house with a couple acres in a rural environment and bank the rest until I could find something to invest in.
Posted on 4/4/22 at 10:31 am to GreenRockTiger
quote:
It just sold a year or two ago for $350K
Here's the thing with Mid-City as far as housing prices.
The huge uptick in home values took off when they started building all those medical facilities on Canal St. and Tulane Ave.
Once those projects got underway, things started going up and as they got completed and staffed with Drs., nurses, anesthesiologists and other highly paid medical personnel it really went nuts.
Plus it didn't hurt that a lot of the local riff-raff in the form of drug dealing hood rats left for Houston and Atlanta when Katrina hit and didn't come back.
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