- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Coaching Changes
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: New Orleans housing prices in the future
Posted on 1/29/17 at 8:14 pm to Woobie
Posted on 1/29/17 at 8:14 pm to Woobie
Oil and gas will not be returning to New Orleans. Not much was here before the oil crash in November 2014. Shell, the only major E&P left in N.O., is costantly shipping their jobs to Houston and forcing the engineering & design of their projects to be done in low cost centers like India.
0
Posted on 1/29/17 at 8:19 pm to zacata88
C. They have reached a plateau, and will stay for a while. Supply and demand
Posted on 1/29/17 at 8:22 pm to zacata88
quote:
A) Burst bubble-style and drop drastically
Least likely to happen. I am currently in the market for a new home and prices are outrageous. This can even be said about Kenner and Metairie. Half a million will not get you much in New Orleans proper and my real estate agent has said it has been like this forever.
Posted on 1/29/17 at 8:37 pm to LSU_Saints_Hornets
I need prices to remain the same for the next 2 years. Quickly outgrowing my $220k house in Metairie and it seems an upgrade will cost me double that.
Posted on 1/29/17 at 8:39 pm to zacata88
quote:
D) Continue to increase
We started flipping houses in 2013, my girlfriend is a broker and had just gotten started so it was a way for her to hit the ground running (and stay busy).
We have done 13 all over the city, Holy Cross, Upper 9th, Central City, the Channel, Algiers Point etc. She does a great job of keeping the architectural integrity with new touches. Average profit per unit to date is $46,200.
The sign usually goes up 3 weeks prior to completion and they usually close by the time they are finished. The longest one stayed on the market was 28 days, the house was on Alvar on the high side of St Claude.
WHat is interesting are the types of people who are buying, retired school teachers from the midwest, young professional couples and tons of buyers in their early to mid 30s in the IT business.What they have in common is a desire to live in the city and cash. We dont respond to non cash offers because we dont have to, people understand the market and most have missed a house they wanted and have their money ready.
In 2013 if we got 140 a sq ft we were happy, the most recent one in Algiers Point sold for 204 a sq ft. My answer is D
Posted on 1/29/17 at 8:41 pm to zacata88
quote:
A) Burst bubble-style and drop drastically
Probably this, but I suspect that they will plateau and remain stable for a while first. Another storm in the gulf coast could change everything.
New Orleans could also see a surge in white collar job growth or the national economy could tank resulting in decreased tourism, but I doubt either of those happen any time soon.
This post was edited on 1/29/17 at 8:44 pm
Posted on 1/29/17 at 8:48 pm to Lakeboy7
quote:
young professional couples and tons of buyers in their early to mid 30s in the IT business.What they have in common is a desire to live in the city and cash.
Must be nice to buy a house cash in your mid 30s. Especially in a place you'll pay 10k a year per kid for school.
quote:
In 2013 if we got 140 a sq ft we were happy, the most recent one in Algiers Point sold for 204 a sq ft.
Smells like a bubble
Posted on 1/29/17 at 8:54 pm to CE Tiger
They may hold out, but my real estate agent constantly tells me it will only get worse the longer my wife and I wait to pull the trigger, but I know she is waiting on a commision but part of me knows she is right.
Posted on 1/29/17 at 8:55 pm to yellowfin
quote:
Must be nice to buy a house cash in your mid 30s. Especially in a place you'll pay 10k a year per kid for school.
Of the 13 we have done none of the buyers had kids (or they were grown).
Posted on 1/29/17 at 8:58 pm to Hussss
quote:
Worth 1.5M now and the house next door went for 1.75 a few months back.
What street?
Posted on 1/29/17 at 9:03 pm to Hussss
quote:
In laws paid 500k in '01 in the Garden District. Worth 1.5M now and the house next door went for 1.75 a few months back.
It's only worth what someone is willing to pay for it. Just because the house next door sold for 1.75 doesn't mean your inlaws house is worth that
Posted on 1/29/17 at 9:04 pm to zacata88
A
Posted on 1/29/17 at 9:14 pm to THRILLHO
The condo prices I think will bust out, there are just too many coming up downtown. The single family housing market will continue to grow. Gentilly is starting to pop off again.
Posted on 1/29/17 at 9:14 pm to zacata88
I think B. They have already fallen some from their peak. Also houses are lasting longer on the market at least in my neighborhood, so therefore prices probably will fall some.
Posted on 1/29/17 at 9:15 pm to zacata88
quote:
A) Burst bubble-style and drop drastically
B) Remain relatively high, but decrease some from their current state
C) Remain stable (based on their current level), or
D) Continue to increase
Most likely C, but could be D.
Rent is really high in New Orleans, which has an effect on housing prices.
quote:
New Orleans rent is skyrocketing, again.
New Orleans is ranked 14 in most expensive rent in Zumper’s November 2016 national rent analysis. The survey looked at over 1 million listings across the United States. In its research, Zumper found that in New Orleans rent has increased four ranks, from number 18 to number 14, since its September 2016 national review.
Posted on 1/29/17 at 9:19 pm to Paul Allen
Housing prices in Nola aren't going anywhere. If anything they will continue to rise,as well as property taxes and insurance. Cost of living in Nola is ridiculous, but there will always be someone that's willing to fork over the dough in order to live in one of the greatest cities in the world.
Posted on 1/29/17 at 9:23 pm to tgrbaitn08
C, maybe D. People have been calling for a slowdown or bust since 2012 and it's just not happening. It's funny, people from out of town say NOLA is hot. People who live in the burbs or are NOLA expats are more negative than out of towners.
Posted on 1/29/17 at 9:25 pm to zacata88
they're gonna increase bc NOLA is a chosen city for the progressives who won't find many other places in the South they can feel safe in... and those people pay a premium for the city proper bc it's all about image and the mailing address for them.
Posted on 1/29/17 at 9:28 pm to Fat Harry
quote:
people from out of town
only see the good parts of the city and its life...
quote:
People who live in the burbs or are NOLA expats are more negative than out of towners.
they just have more pride in those burbs... the longer you've lived in the area, the less the parish lines mean
Posted on 1/29/17 at 9:31 pm to tgrbaitn08
If interest rates continue to rise, home prices will go down. Trump said he wants a weaker dollar. This will cause interest rates to remain low.
If inflation becomes a problem, then rates will rise. Rising interest rates help strengthen the currency. Inflation means higher prices.
Law of supply/demand also affects prices.
Are prices more likely to go up or down? Based on information today it appears that prices are more likely to go up. If something happens to the economy, prices will likely go down.
One global event could affect the global economy. No one knows when (if) an event will happen.
If inflation becomes a problem, then rates will rise. Rising interest rates help strengthen the currency. Inflation means higher prices.
Law of supply/demand also affects prices.
Are prices more likely to go up or down? Based on information today it appears that prices are more likely to go up. If something happens to the economy, prices will likely go down.
One global event could affect the global economy. No one knows when (if) an event will happen.
Page 2 of 6
Popular
Back to top
Follow TigerDroppings for LSU Football News