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re: Do you know many NOLA residents throwing in the towel?

Posted on 9/20/17 at 4:00 pm to
Posted by lsupride87
Member since Dec 2007
112623 posts
Posted on 9/20/17 at 4:00 pm to
quote:

You're joking, right? A $400k house makes you rich now?
I thought he was my age

At 30, yes it does
Posted by lsupride87
Member since Dec 2007
112623 posts
Posted on 9/20/17 at 4:01 pm to
quote:

Bruh, I'm not in my 20's or 30's
Damn baw, I thought you were a spy chicken like me
Posted by LNCHBOX
70448
Member since Jun 2009
89435 posts
Posted on 9/20/17 at 4:02 pm to
quote:

I thought he was my age

At 30, yes it does


Meh. If I didn't have two car notes right now with my wife in school still, paying the note on $400k would be nothing. Even if you only did 5% down and had PMI. You need to do well to swing it, but certainly not "rich."
Posted by lsupride87
Member since Dec 2007
112623 posts
Posted on 9/20/17 at 4:03 pm to
And regardless, I would still think owning a 400k home puts you in the top 3% in our city/state. So I guess that would fit the definition of rich no?
Posted by lsupride87
Member since Dec 2007
112623 posts
Posted on 9/20/17 at 4:03 pm to
quote:


Meh. If I didn't have two car notes right now with my wife in school still, paying the note on $400k would be nothing. Even if you only did 5% down and had PMI. You need to do well to swing it, but certainly not "rich."


If you own a 400k home at 30 you are absolutely in the top 1%. How would that not be rich?
Posted by LNCHBOX
70448
Member since Jun 2009
89435 posts
Posted on 9/20/17 at 4:04 pm to
quote:

I would still think owning a 400k home puts you in the top 3% in our city/state


$400k is nowhere near the top 3% in NOLA proper.
Posted by Tigerdev
Member since Feb 2013
12287 posts
Posted on 9/20/17 at 4:04 pm to
Fair enough. Those places are probably on par with DC which id move back to if i had to.
Posted by Virgo
Member since Aug 2017
168 posts
Posted on 9/20/17 at 4:06 pm to
I'm strongly considering it
Posted by lsupride87
Member since Dec 2007
112623 posts
Posted on 9/20/17 at 4:06 pm to
quote:

$400k is nowhere near the top 3% in NOLA proper.



quote:

The median home value in New Orleans is $168,200.
The median price of homes currently listed in New Orleans is $298,000.


I think it would fall close
Posted by nola000
Lacombe, LA
Member since Dec 2014
13139 posts
Posted on 9/20/17 at 4:08 pm to
quote:

Right now I am trying to figure out which of the mayoral candidates is most likely to return us to the past, and which one at least will try to effect change.


Easy. Check their bio. If theyre from LA. Dont vote for them. If theyre carpetbaggers, pull the lever. I hate to boil it down to that but we need people from outside that arent connected to the good ole boy network of apathy, cronyism and nepotism.
Posted by LNCHBOX
70448
Member since Jun 2009
89435 posts
Posted on 9/20/17 at 4:09 pm to
quote:

I think it would fall close


Currently 2660 homes for sale in New Orleans on Zillow. 822 are at $400k+.

Not perfectly scientific, but you get the idea.

Posted by lsupride87
Member since Dec 2007
112623 posts
Posted on 9/20/17 at 4:12 pm to
quote:

Currently 2660 homes for sale in New Orleans on Zillow. 822 are at $400k+.
So 70% of listed homes are less than 400k

One would think listed homes are usually going to be slightly more desirable than the average. For example, do all the 1000s of homes in the ghettos ever even get listed?


So maybe a 400k home would be top 15%? Just trying to guess



This post was edited on 9/20/17 at 4:12 pm
Posted by tgrbaitn08
Member since Dec 2007
148031 posts
Posted on 9/20/17 at 4:12 pm to
quote:

The median home value in New Orleans is $168,200.
The median price of homes currently listed in New Orleans is $298,000.



yeah, have you seen those houses and where they are located??

I'd rather not live in New Orleans East, the 9th Ward or Hollygrove
Posted by lsupride87
Member since Dec 2007
112623 posts
Posted on 9/20/17 at 4:12 pm to
quote:

'd rather not live in New Orleans East, the 9th Ward or Hollygrove
Why not?
Posted by LNCHBOX
70448
Member since Jun 2009
89435 posts
Posted on 9/20/17 at 4:13 pm to
quote:

So 70% of listed homes are less than 400k

One would think listed homes are usually going to be slightly more desirable than the average. For example, do all the 1000s of homes in the ghettos ever even get listed


So maybe a 400k home would be top 15%? Just trying to guess


What does it matter? It's not that much of a note, and your initial estimate was waaaaaay off.
Posted by lsupride87
Member since Dec 2007
112623 posts
Posted on 9/20/17 at 4:14 pm to
quote:

It's not that much of a note, and your initial estimate was waaaaaay off.
You think it is. I honestly have no idea still.


I think if you took every single house in the city of New Orleans, being over 400k would be around the top 5%. I just didnt feel like arguing anymore so I changed to the top 15%.


There are alot of overpriced expensive houses in this city, but there are more complete shitholes that are worth jack shite
This post was edited on 9/20/17 at 4:16 pm
Posted by lsupride87
Member since Dec 2007
112623 posts
Posted on 9/20/17 at 4:17 pm to
That is precisely why NOLA feels so expensive. 40-60% of the city is completely off limits for people who want to survive the night
Posted by LNCHBOX
70448
Member since Jun 2009
89435 posts
Posted on 9/20/17 at 4:17 pm to
quote:

You think it is. I honestly have no idea still.
Are you so against conceding you can't just admit you were a little off?

quote:

There are alot of overpriced expensive houses in this city, but there are more complete shitholes that are woth jack shite


878 of the listings are under $150k, so I'd say that point is moot,
Posted by ThatMakesSense
Fort Lauderdale
Member since Aug 2015
15281 posts
Posted on 9/20/17 at 4:18 pm to
I'm not reading all this but I assume you advocate NOLA and tell the rest to GTFO?
Posted by LNCHBOX
70448
Member since Jun 2009
89435 posts
Posted on 9/20/17 at 4:19 pm to
Nah, but you can get out with your bullshite.
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