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re: NOLA metro area home prices up 6% from March
Posted on 9/10/20 at 8:46 am to tLSU
Posted on 9/10/20 at 8:46 am to tLSU
quote:
There is tourism and nothing else.
Ever heard of a little thing called a port? NOLA is and always will be defined by the port. I'm not saying tourism isn't a huge deal because it is. But, NOLA is more than tourism.
0
Posted on 9/10/20 at 8:47 am to USMEagles
quote:
For me, Jefferson Parish government / schools vs. the "cool factor" of living in Mid City is a no-brainer, but there's a certain variety of weirdo who doesn't get it.
While I agree JP government is much better than OP, there is not much difference in schools.
But I agree with your post about people in New Orleans who "look down" upon those living in Jefferson Parish like it's a big compromise - it's ridiculous, especially considering that there are some parts of JP that are closer to the CBD than parts of NOLA.
This post was edited on 9/10/20 at 8:48 am
Posted on 9/10/20 at 8:49 am to brewhan davey
quote:
While I agree JP government is much better than OP, there is not much difference in schools.
Exactly. There are some great magnet schools in both places, but the average schools suck in both parishes.
Posted on 9/10/20 at 8:51 am to danilo
quote:
Nothing fancy, likely under $250k (maybe closer to $200k or even less)
well you got the nothing fancy part right for 200k or less
This post was edited on 9/10/20 at 8:52 am
Posted on 9/10/20 at 8:53 am to brewhan davey
quote:
But I agree with your post about people in New Orleans who "look down" upon those living in Jefferson Parish like it's a big compromise - it's ridiculous,
These people are almost always transplants in my experience.
Posted on 9/10/20 at 8:55 am to brewhan davey
quote:
I am not seeing many listings with under $350/month in condo/HOA fees. Screw that
I looked that area a few years ago and saw a couple places that just became unaffordable after the condo fees. Plus I would have had to buy a parking spot too.
Posted on 9/10/20 at 8:55 am to JohnnyKilroy
quote:
These people are almost always transplants in my experience.
White people from Uptown often have a similar attitude. To be fair, though, it's often not just an Orleans-vs.-Jefferson thing, it's a "nowhere but Uptown" thing.
Posted on 9/10/20 at 8:59 am to USMEagles
quote:
White people from Uptown often have a similar attitude. To be fair, though, it's often not just an Orleans-vs.-Jefferson thing, it's a "nowhere but Uptown" thing
Nailed it.
Posted on 9/10/20 at 9:00 am to USMEagles
quote:
White people from Uptown often have a similar attitude. To be fair, though, it's often not just an Orleans-vs.-Jefferson thing, it's a "nowhere but Uptown" thing.
That's very true. I know someone who said that he would not even look for houses outside of the 70118 zip code (close to Audubon). He ended up buying a place on Eleonore (which is just outside of 70118
) because the prices in his area of choice were way too high. And in my opinion, they aren't much better where he bought.Posted on 9/10/20 at 9:03 am to GWfool
quote:
Nailed it.
It's no more rational than the anti-Metairie thing. In fact, it's probably less rational. I was born Uptown and lived in New Orleans for much of my life, but Orleans Parish gives me the heeby-jeebies. This is particularly true of Uptown.
Posted on 9/10/20 at 9:13 am to USMEagles
quote:
, it's a "nowhere but Uptown" thing.
I'm one of those people.
Not dealing with crossing the bridge.
Not dealing with flooding in mid city/lakeview.
Not dealing with having to get into my car to do everything.
For myself, the appeal of living in New Orleans disappears having to deal with those things.
Posted on 9/10/20 at 9:13 am to yaboidarrell
quote:
Doesn't make sense. Even with Destroya's shutdown of the city and its tourism based economy, property values continue to rise and inventory is moving quick. The bubble's gotta burst soon.
LINK
It is a lot of factors with New Orleans. You of course have the same thing happening nationally with low interest rates, etc. that has been propping up the housing market for several years while people have been expecting a correction. In New Orleans we have a lot of second home purchases, air bnb purchases all of which reduce housing stock.
Personally I expect the impact of lingering unemployment to hit housing prices at some point. New Orleans may end up getting hit pretty hard by that as many hotels are forecasting a two year re-stabilization period before their occupancy returns to normal. This will trickle down through the restaurant and other hospitality / service industries.
Housing in New Orleans may again be propped up by people moving from some of these larger markets for cheaper home prices.
Personally, I'm looking to bail on New Orleans. Had been looking for a house but really didn't want to spend the money here. Also am a little worried about what may happen to property tax rates here with tourism dollars shrinking.
Looks like I'll have a chance to work in the eastern shore Alabama / Pensacola area and housing over there is way more available and affordable. Hoping to get over there within 12 - 18 months. Personally I feel like that may be the time we see a dip in housing prices as people start to tighten the purse strings.
Posted on 9/10/20 at 9:19 am to yaboidarrell
quote:
The bubble's gotta burst soon.
will not happen, in fact, we will see just the opposite as homes continue to get higher for a good bit with more companies embracing remote work, and our cost of living being relatively low compared to other "cool" cities, considering that a $100k salary will go a long ways here, nola real estate will be staying healthy
Posted on 9/10/20 at 9:20 am to fightin tigers
They’re total eye sores but there are some condos for sale in that complex on the corner of Henry Clay and Magazine for under $200k. Two blocks from the park and surrounded by awesome restaurants.
LINK
LINK
This post was edited on 9/10/20 at 9:22 am
Posted on 9/10/20 at 9:24 am to ellishughtiger
quote:
They’re total eye sores but there are some condos for sale in that complex on the corner of Henry Clay and Magazine for under $200k.
Man I wish someone would take a big wrecking ball to that building...or at least give it and the units within a facelift.
The Mid Century vibe does not fit the area at all.
This post was edited on 9/10/20 at 9:26 am
Posted on 9/10/20 at 9:25 am to brewhan davey
quote:
Eleonore (which is just outside of 70118
He bought in a slightly better zip code.
Posted on 9/10/20 at 9:26 am to glassman
quote:
He bought in a slightly better zip code.
Taking all of 70115 and all of 70118 into consideration, I agree.
This post was edited on 9/10/20 at 9:27 am
Posted on 9/10/20 at 9:28 am to ellishughtiger
They must have really wanted to get that pool in there
Posted on 9/10/20 at 9:28 am to brewhan davey
Prime real estate for a couple $1mm+ houses right there. Surprised no one has come in and tried to buy all the condo owners out yet.
Posted on 9/10/20 at 9:32 am to ellishughtiger
quote:
Prime real estate for a couple $1mm+ houses right there.
Definitely. Henry Clay has some super nice houses on the entire stretch from St. Charles to Tchoup. Then, there is that condo building.
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