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Started By
Message
40 cities named as pending a housing crisis, Louisiana's big 4 all made the list.
Posted on 6/14/21 at 9:33 am
Posted on 6/14/21 at 9:33 am
LINK
quote:
Using data from sources that include the U.S. Census Bureau, the Consumer Financial Protection Bureau, the 2019 American Community Survey and RealtyTrac, GOBankingRates identified the 40 cities most at risk for experiencing a widespread housing crisis. The study examined factors such as mortgage delinquencies, foreclosures, and homeowner and rental vacancy rates.
quote:
Baton Rouge, Louisiana
Total housing units: 104,145
% of mortgages 30-89 days delinquent: 4.5%
% of mortgages 90+ days delinquent: 1.7%
Foreclosure rate: 1 in every 8,703 homes
Homeowner vacancy rate %: 2.4%
quote:
Lafayette, Louisiana
Total housing units: 59,431
% of mortgages 30-89 days delinquent: 3.6%
% of mortgages 90+ days delinquent: 1.3%
Foreclosure rate: 1 in every 5,467 homes
Homeowner vacancy rate %: 2.4%
quote:
New Orleans, Louisiana
Total housing units: 192,236
% of mortgages 30-89 days delinquent: 3.6%
% of mortgages 90+ days delinquent: 1.4%
Foreclosure rate: 1 in every 5,173 homes
Homeowner vacancy rate %: 1.9%
quote:
Shreveport, Louisiana
Total housing units: 91,088
% of mortgages 30-89 days delinquent: 3.9%
% of mortgages 90+ days delinquent: 1.3%
Foreclosure rate: 1 in every 3,156 homes
Homeowner vacancy rate %: 2.1%
This post was edited on 6/14/21 at 9:36 am
9
Posted on 6/14/21 at 9:41 am to Kujo
Joe says "120 days man give me a break".
It only took 120 to ruin the country Joe ya piece of grinning shite
It only took 120 to ruin the country Joe ya piece of grinning shite
Posted on 6/14/21 at 9:55 am to The Torch
Commie Joe is doing the best he can, give him a break. He’s from Scranton, you know.
Posted on 6/14/21 at 10:12 am to Kujo
I'm not familiar with what typical percentages are. What type of crisis? Is the concern on the low percentage of availability or the the percent of loans in default?
They seem to me to be two completely different issues. Low availability means higher prices while a higher delinquent rate would mean possible bank failures and higher interest rates? Is 2% greater than 90 days that unusual? It wouldn't surprise me based on lifestyles that I see versus average income.
They seem to me to be two completely different issues. Low availability means higher prices while a higher delinquent rate would mean possible bank failures and higher interest rates? Is 2% greater than 90 days that unusual? It wouldn't surprise me based on lifestyles that I see versus average income.
Posted on 6/14/21 at 10:34 am to Kujo
quote:
Foreclosure rate: 1 in every 3,156 homes
quote:
Shreveport, Louisiana
That's horrible, but it's not going to take the crown from the South Florida cities in 2005-2009.
Posted on 6/14/21 at 10:38 am to The Torch
quote:
Joe says "120 days man give me a break".
It only took 120 to ruin the country Joe ya piece of grinning shite
as much as i dislike him do you honestly think the blame rests entirely on him? there's been decades of poor government policy from both sides of the aisle that have led to this. he is contributing to it like the previous 4 or so administrations
Posted on 6/14/21 at 10:48 am to Kujo
We’re on the list (Louisville).
Just from personal experience, the housing market is insane here. A friend just accepted an offer this week after 37 viewings and 11 offers in less than two weeks. We bought in December a house that was only on the market for 4 days and we lucked out when the offer before ours fell through. There were at least four houses we looked at online before we purchased that we didn’t even get a chance to view in person because they were coming off the market so fast.
That said, we also have an epidemic here of companies building significantly higher end condos and apartments that are sitting empty because people just can’t afford them. Particularly downtown. When we were in our apartment before buying, our rent went up about $400 in a year without addition of new amenities or anything along those lines.
And new housing builds aren’t happening for single family starter homes. A friend’s daughter who graduated last year and has a good job is having such a hard time finding something to start out with in a decent area. And she’s been approved for around $200k.
Just from personal experience, the housing market is insane here. A friend just accepted an offer this week after 37 viewings and 11 offers in less than two weeks. We bought in December a house that was only on the market for 4 days and we lucked out when the offer before ours fell through. There were at least four houses we looked at online before we purchased that we didn’t even get a chance to view in person because they were coming off the market so fast.
That said, we also have an epidemic here of companies building significantly higher end condos and apartments that are sitting empty because people just can’t afford them. Particularly downtown. When we were in our apartment before buying, our rent went up about $400 in a year without addition of new amenities or anything along those lines.
And new housing builds aren’t happening for single family starter homes. A friend’s daughter who graduated last year and has a good job is having such a hard time finding something to start out with in a decent area. And she’s been approved for around $200k.
This post was edited on 6/14/21 at 10:52 am
Posted on 6/14/21 at 10:51 am to Loup
quote:
there's been decades of poor government policy
Coincidentally, Joe has been in government making policy for 40 years.
Posted on 6/14/21 at 10:54 am to Kujo
One of those is not like the others but getting there.
Posted on 6/14/21 at 10:57 am to Kujo
Read the fine print of data collected and how the evaluated the markets/cities.
Not a single city in California made the list? Despite having 2 cities with the country’s worst homeless community?
The article is bullshite propaganda.
Not a single city in California made the list? Despite having 2 cities with the country’s worst homeless community?
The article is bullshite propaganda.
Posted on 6/14/21 at 11:00 am to BluegrassBelle
quote:
the housing market is insane here.
Sames here in Lafayette. Neighborhoods going up everywhere.
Posted on 6/14/21 at 11:15 am to MikeBRLA
quote:
Coincidentally, Joe has been in government making policy for 40 years.
yup, a good chunk of our leadership are dinosaurs. there needs to be term limits.
Posted on 6/14/21 at 11:35 am to BluegrassBelle
quote:
A friend’s daughter who graduated last year and has a good job is having such a hard time finding something to start out with in a decent area. And she’s been approved for around $200k.
This is what the boomers have a hard time understanding. <$200k doesn’t get you much in a lot of places anymore. In some places it gets you nothing.
Cue the “millennials are so lazy. Back in my day we had no problem buying cars with cash (when college was cheap and loans weren’t necessary and housing and cars were fairly affordable and we’re all about to retire on guaranteed pensions)”
Posted on 6/14/21 at 12:15 pm to Ramblin Wreck
quote:
They seem to me to be two completely different issues. Low availability means higher prices while a higher delinquent rate would mean possible bank failures and higher interest rates? Is 2% greater than 90 days that unusual? It wouldn't surprise me based on lifestyles that I see versus average income.
currently in BR the market on houses is just going up, with people in bidding wars above list price.
2016 flood hurt inventory. and lumber construction material costs are skyrocketing.
ut if we see an uptick in foreclosures, then those homeowners will exit the ownership market for at least 3 years (for an FHA loan) and then you can have a housing bubble pop ans inventory >> the amount of potential buyers...
c
Posted on 6/14/21 at 12:19 pm to elprez00
quote:
This is what the boomers have a hard time understanding. <$200k doesn’t get you much in a lot of places anymore. In some places it gets you nothing.
and yet, it seems like every new development in BR has housing starting at $400k...well over $200/sq ft
Posted on 6/14/21 at 12:25 pm to BluegrassBelle
quote:
And new housing builds aren’t happening for single family starter homes
Yup. They build hipsterboxes and mcmansions. I guess they figure Generation Pokemon Go can't be bothered with mowing.
Posted on 6/14/21 at 12:59 pm to tigeraddict
quote:
currently in BR the market on houses is just going up, with people in bidding wars above list price.
That’s happening pretty much everywhere. I doubt the 2016 floods are moving the needle much on that front
Posted on 6/14/21 at 1:08 pm to Kujo
I live in Lafayette and own my own house and a rental property. Most of the new builds are out of reach for about 65% of the population and the affordable new builds are usually in flood zones or in terrible public school districts. Also doesn't help that the region's highest paying industry (O&G) is in decline.
Posted on 6/14/21 at 1:10 pm to Kujo
quote:It's ok, JBE is pro life.
Louisiana's big 4 all made the list.
Posted on 6/14/21 at 1:42 pm to Kujo
bought my house in January. Live in one of those cities. I could sell it at 20% profit and move to small town and upgrade 1000 square feet and work remote... if I wanted to.
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