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Is there a housing bubble in Baton Rouge?
Posted on 3/5/14 at 3:40 pm
Posted on 3/5/14 at 3:40 pm
All these million dollar plus houses in town. Who is going to buy them? There aren't that many physicians around to snap them all up. This isn't Houston where we have loads of wealth coming into town daily. It'll be interesting to watch. A number of these homes have been on the market for years.
10
Posted on 3/5/14 at 3:41 pm to RedRifle
specific neighborhood/area?
Posted on 3/5/14 at 3:41 pm to RedRifle
Well you have IBM coming in
And lol at comparing the br houses to Houston. The only house in competition with the nice Houston houses is Pennington
And lol at comparing the br houses to Houston. The only house in competition with the nice Houston houses is Pennington
Posted on 3/5/14 at 3:41 pm to RedRifle
There aren't really that many high end homes. Many of them are owned by business owners FYI. There are many small businesses around here.
Now if you ask if BR is overbuilding Apts, the answer is absolutely.
Now if you ask if BR is overbuilding Apts, the answer is absolutely.
Posted on 3/5/14 at 3:42 pm to RedRifle
The majority of wealthy folks in BR are not physicians. Small business owners make up that majority. There are plenty of business in town, including medical practices.
Posted on 3/5/14 at 3:42 pm to TigerBait1127
quote:
The only house in competition with the nice Houston houses is Pennington
Posted on 3/5/14 at 3:44 pm to LaBR4
Steele, Goodwood, Bocage etc. My Houston comparison was that I can see that market due to it's size and wealth being able to support so many million dollar homes. I just don't see it here.
Posted on 3/5/14 at 3:45 pm to Camp Randall
Driving down Perkins the other day towards Santa Maria and I noticed a lot of higher end homes off Perkins and in Santa Maria with for sale signs.
Posted on 3/5/14 at 3:45 pm to RedRifle
quote:
Steele, Goodwood, Bocage
That's old money dude. IE inherited wealth.
Posted on 3/5/14 at 3:45 pm to Camp Randall
quote:
Beat Ya.
Yeah. Our statements should be common sense though.
Posted on 3/5/14 at 3:47 pm to RedRifle
quote:
Steele, Goodwood, Bocage etc. My Houston comparison was that I can see that market due to it's size and wealth being able to support so many million dollar homes. I just don't see it here.
Some of the older neighborhoods in BR after the sprawl from downtown and north BR and the oldest money in Baton Rouge, I believe they will hold up just fine. Its not like Baton Rouge is building new neighborhoods only of million dollar homes
Posted on 3/5/14 at 3:47 pm to Camp Randall
quote:
That's old money dude. IE inherited wealth
This.
And another factor/sector of sizeable income is the plants, Exxon,etc. Also, some professors at LSU make well over 6 figures.
This post was edited on 3/5/14 at 3:49 pm
Posted on 3/5/14 at 3:48 pm to H.M. Murdock
True.
McMansions galore in Santa Maria. Some will never sell but several of them are spec homes from builders showing off.
McMansions galore in Santa Maria. Some will never sell but several of them are spec homes from builders showing off.
Posted on 3/5/14 at 3:48 pm to TigerBait1127
quote:
The only house in competition with the nice Houston houses is Pennington
Im guessing your referring to the Highland house? And there are way more than just this house that compete in Houston.
Posted on 3/5/14 at 3:48 pm to RedRifle
quote:
All these million dollar plus houses in town
you sure you don't mean 300-500k?
Posted on 3/5/14 at 3:49 pm to NickyT
quote:
This.
And another factor/sector of sizeable income is the plants, Exxon,etc. Also, some professor's at LSU make well over 6 figures.
Unless they're paying $400,000 at the plants there's no way they can afford a $1m home.
Posted on 3/5/14 at 3:50 pm to Topwater Trout
quote:
you sure you don't mean 300-500k?
That what I was thinking.
Many, many homes in this range.
Posted on 3/5/14 at 3:50 pm to Camp Randall
quote:
That's old money dude.
Yes most is but not all.
Posted on 3/5/14 at 3:50 pm to RedRifle
I always have this same question about the expensive new construction that seems to be so popular around here. All of the fake TNDs being built have houses that start in the 300s, and then there are the luxury attached housing units that aren't much less, and I often wonder if BR can really afford that. Obviously, the developers do their homework before making such decisions, but it's still hard for me to see the demand as being that substantial in this city.
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