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re: So this is what you get for $500k in New Orleans right now
Posted on 10/22/14 at 8:59 pm to Buck Dancer
Posted on 10/22/14 at 8:59 pm to Buck Dancer
My house currently appraises for 40% more than I paid for it but where am I going to go? I guess I could live in one of my rentals until the bubble burst, but in New Orleans that could take 10-15 years or never. It's insane down here right now.
This post was edited on 10/22/14 at 9:00 pm
3
Posted on 10/22/14 at 9:02 pm to tgrbaitn08
the bubble is so big right now in NOLA it sucks. the only way you can capitalize on it is if you sell your house and then move away or reappraise your house to get your mortgage % down and remove PMI. Not very many deals anymore and even the questionable neighborhoods are going for big dollar. Only matters now if you sell high and buy elsewhere low. Don't get caught like they did elsewhere and refinance your house at the high value to buy other properties then have the bubble burst and be stuck with 500k in property value and 1 mil in loans.
Posted on 10/22/14 at 9:03 pm to tgrbaitn08
I don't see how the bubble is going to burst in New Orleans anytime soon. Yuppies keep moving here from elsewhere at insane rates.
Posted on 10/23/14 at 7:12 am to tgrbaitn08
quote:
until the bubble burst, but in New Orleans that could take 10-15 years or never
Bubbles have a much shorter lifespan than that unless you're in Palo Alto.
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