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Slowest Housing Markets - Louisiana has 3/12
Posted on 4/19/24 at 11:25 am
Posted on 4/19/24 at 11:25 am
Of the 12 cities with longest days on market, 3 are in Louisiana.
1. Lafayette
5. New Orleans
12. Baton Rouge
https://www.dailymail.co.uk/yourmoney/housing-market/article-13327893/property-cold-spots-longest-sell.html?ico=related-replace
1. Lafayette
5. New Orleans
12. Baton Rouge
https://www.dailymail.co.uk/yourmoney/housing-market/article-13327893/property-cold-spots-longest-sell.html?ico=related-replace
Posted on 4/19/24 at 11:28 am to member12
quote:
Nothing for sale.....
tons of stuff for sale in lakeview in new orleans but it seems like nothing is moving
Posted on 4/19/24 at 11:28 am to Finnish
Stout is going to beat your arse
Posted on 4/19/24 at 11:32 am to billjamin
Insurance in Nola is a huge issue
Posted on 4/19/24 at 11:37 am to Finnish
Insurance crisis and brain drain
Posted on 4/19/24 at 11:39 am to Finnish
Who wants to buy in NOLA when Metairie is right there?
Posted on 4/19/24 at 11:49 am to chalmetteowl
Surprised at Lafayette?
I have only spent time on the outskirts while visiting does Lafayette proper have a large section of undesirable areas?
I have only spent time on the outskirts while visiting does Lafayette proper have a large section of undesirable areas?
Posted on 4/19/24 at 11:51 am to Finnish
Who knew crippling inflation and 7+% 30 year rates would impact the house market?
Craziness, I tell you.
Craziness, I tell you.
Posted on 4/19/24 at 11:52 am to Finnish
people don't understand how to make low ball offers on properties that have been sitting for a while.
Posted on 4/19/24 at 11:54 am to Tmcgin
quote:
Insurance in Nola is a huge issue
It is. And very bad for much of south La. It’s becoming an impossible situation for a lot of these folks. I feel really bad for the old people who have lived in their houses almost their whole lives who now can’t afford insurance
Posted on 4/19/24 at 11:59 am to computerguy
Homes are significantly overpriced
Posted on 4/19/24 at 12:04 pm to Tmcgin
quote:
Insurance in Nola is a huge issue
Homeowners Insurance in the Greater New Orleans area has reached a crisis point and there's no end in sight.
People were willing to put up with the poor quality of life for cheap cost of living before.
Now NOLA has poor quality of life and a high cost of living. That's a bad situation.
There will be a mass exodus, foreclosures and economic despair if things don't change soon.
Posted on 4/19/24 at 12:06 pm to Miglez
quote:
There will be a mass exodus, foreclosures
only for the poors. maybe it gets much of the riff raff out of the city?
Posted on 4/19/24 at 12:08 pm to notiger1997
The Insurance issue has improved over the last 3-5 months quite a bit fortunately. At least comparatively to a year to 2 years ago
Louisiana suffers from being Louisiana, the areas listed are 3 of the 4 largest incorporated areas in the state so we will notice it there most.
I also think people are still waiting for stability with the rates, not even necessarily a significant drop, just stability. But the housing market although reactionary, it reacts relatively slowly, the trends will lag a little behind the current scenarios until it finally catches up
Louisiana suffers from being Louisiana, the areas listed are 3 of the 4 largest incorporated areas in the state so we will notice it there most.
I also think people are still waiting for stability with the rates, not even necessarily a significant drop, just stability. But the housing market although reactionary, it reacts relatively slowly, the trends will lag a little behind the current scenarios until it finally catches up
Posted on 4/19/24 at 12:09 pm to sidewalkside
quote:
only for the poors. maybe it gets much of the riff raff out of the city?
Homeowners insurance going up from $5000/year to $10000/year doesn't only affect the "poors".
The middle class family is getting squeezed out. There's going to be more sellers than buyers.
Posted on 4/19/24 at 12:14 pm to udtiger
quote:
Who knew crippling inflation and 7+% 30 year rates would impact the house market?
Craziness, I tell you.
Is Louisiana the only state facing this issue?
Posted on 4/19/24 at 12:14 pm to Finnish
I'm feeling it for sure. Coming up on 3 weeks on the market, 0 offers.
And we are moving to Utah where houses go in the blink of an eye. Very frustrating.
And we are moving to Utah where houses go in the blink of an eye. Very frustrating.
Posted on 4/19/24 at 12:16 pm to sidewalkside
quote:
only for the poors. maybe it gets much of the riff raff out of the city?
They aren't affected. It's the middle class that leaves.
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