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Started By
Message
re: So this is what you get for $500k in New Orleans right now
Posted on 10/23/14 at 7:33 am to tgrbaitn08
Posted on 10/23/14 at 7:33 am to tgrbaitn08
quote:
I've been here 15 years and have yet to see a bubble burst.
Ummm...there was a nation wide burst around '07-'08, buddy. NOLA wasn't shielded from it either.
The only reason it wasn't as bad in all of Louisiana as it was across the nation is because the hurricanes created a demand for housing even long after they passed but there was still a sharp decline in prospective buyers due to the sub prime mess and inventory went up and pricing adjusted accordingly.
1
Posted on 10/23/14 at 7:34 am to Me4Heisman
quote:
Except that there is currently a booming economy in Houston with quality professional jobs.
It's also propped up by the oil industry which could be in for a rude awakening if oil prices keep slipping.
Posted on 10/23/14 at 7:35 am to stout
quote:
It's also propped up by the oil industry which could be in for a rude awakening if oil prices keep slipping.
Posted on 10/23/14 at 7:39 am to stout
quote:
Ummm...there was a nation wide burst around '07-'08
Thought we were talking about New Orleans?
The 07-09 collapse of the housing market and the nationwide recession had little effect in Lousiana. or at least south Louisiana.
Posted on 10/23/14 at 7:40 am to stout
quote:
It's also propped up by the oil industry which could be in for a rude awakening if oil prices keep slipping.
Lol
Ok buckwheat
Posted on 10/23/14 at 7:40 am to Thib-a-doe Tiger
Laugh all you want but do you think the oil industry will keep doing all the expensive drilling methods they use in some parts of the USA if it isn't profitable? No and at some point it will no longer be profitable for them. Analyst say any sustained price point below $80 per barrel spells danger.
The Middle east also said they are prepared for a price war and said they will win. There are currently no major conflicts there to keep their exports down like there has been in years past which meant it was profitable for companies to practice the more expensive drilling methods in the USA.
Save this post for when it happens. People in the oil industry should be hoping a conflict starts in that shithole soon.
The Middle east also said they are prepared for a price war and said they will win. There are currently no major conflicts there to keep their exports down like there has been in years past which meant it was profitable for companies to practice the more expensive drilling methods in the USA.
Save this post for when it happens. People in the oil industry should be hoping a conflict starts in that shithole soon.
This post was edited on 10/23/14 at 7:49 am
Posted on 10/23/14 at 7:43 am to stout
quote:
People in the oil industry should be hoping a conflict starts in that shithole soon.
"That can be arranged."
This post was edited on 10/23/14 at 7:44 am
Posted on 10/23/14 at 7:43 am to tgrbaitn08
quote:
The 07-09 collapse of the housing market and the nationwide recession had little effect in Lousiana. or at least south Louisiana.
I said the market was propped up by the hurricanes. All of South Louisiana was like you said, but that does not mean there wasn't a shift in the market because there was. Inventory went up, prices adjusted, and banks, ever since then, have more repo inventory than ever before. That is a bubble popping whether you want to admit it or not.
What do I know though? I have only been in real estate for 15 years now.
Posted on 10/23/14 at 7:47 am to stout
Don't forget the oil spill in 2010 savee a lot of peoples businesses as well as a huge shot in the arm for the economy whether people want to admit it or not. Lots of spillonaires were born during that time.
Posted on 10/23/14 at 7:47 am to tgrbaitn08
quote:
spillonaires
Posted on 10/23/14 at 7:51 am to tgrbaitn08
quote:
Don't forget the oil spill in 2010 savee a lot of peoples businesses as well as a huge shot in the arm for the economy whether people want to admit it or not. Lots of spillonaires were born during that time.
I tend to forget about that. I was in Houma a lot then and I've never seen that town so packed and dollars flow like that. It's a damn shame.
Posted on 10/23/14 at 7:58 am to RollTheRock
It's a 5 br house in New Orleans in a rising neighborhood, not Livingston Parish. What do you expect?
Posted on 10/23/14 at 8:05 am to VanCleef
Problem with Uptown, is no matter how nice the house/neighborhood there is always a shoddy area a couple blocks away.
That was my only complaint living there.
That was my only complaint living there.
Posted on 10/23/14 at 8:06 am to VanCleef
quote:
It's a 5 br house in New Orleans in a rising neighborhood
It's a double. There are 5 bedrooms total. There's no off street parking. But I still think it will sell at close to asking
Posted on 10/23/14 at 8:08 am to Restomod
quote:
Problem with Uptown, is no matter how nice the house/neighborhood there is always a shoddy area a couple blocks away.
That was my only complaint living there.
this house is in Bywater, which is in the upper 9th ward.
Posted on 10/23/14 at 8:08 am to tgrbaitn08
quote:
Lol
Ok buckwheat
if OPEC increases production to cut the prices, it won't be viable to frack here domestically
as a person living in LC, i'm quite worried about the price of oil. it may derail the capital projects here or delay them
Posted on 10/23/14 at 8:09 am to stout
Short term the Mid East could hurt domestic production, but the majors would sustain until the Mid East was tapped out and then charge whatever they wanted
This post was edited on 10/23/14 at 8:11 am
Posted on 10/23/14 at 8:11 am to Napoleon
quote:
this house is in Bywater, which is in the upper 9th ward.
I was speaking in general terms, not so much isolating this particular house.
Posted on 10/23/14 at 8:11 am to stout
quote:
Save this post for when it happens. People in the oil industry should be hoping a conflict starts in that shithole soon.
yea we used to rejoice when shite went down over there. sucks for them, but it was job security for us.
Posted on 10/23/14 at 8:11 am to Napoleon
(no message)
This post was edited on 10/23/14 at 8:12 am
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