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Posted on 1/21/16 at 9:52 am to LSUwag
quote:
It also had a lot to do with Bill Clinton beating George Bush 41 for the Presidency. Look where we're at today as a result. I contend that this nation would be a lot better off had that chain of events not occurred.
Clinton did loosen the restrictions on subprime lending that allowed shite like 104% LTV, no doc loans, etc
Posted on 1/21/16 at 9:52 am to BamaChick
quote:
Yeah, nobody cared when the Bush Medicare Part D plans and Obamacare both gutted the pharmaceutical industry and 60% layoffs happened in my field.
quote:
BamaChick
Drug rep? Pics???
If you were able to move to medical device/equipment sales, I feel the need to DEMAND pics!!!
IF you have starched scrubs in your home...... Pics.
Posted on 1/21/16 at 9:53 am to geauxtigers87
quote:
If you're not a fricking idiot and don't buy a 400k house in Lakeview or river ranch i say buy with rent being as stupid as it is
I say the opposite. Rent in Nola is very reasonable compared to purchase price of a home right now.
For instance, there is a duplex up the street from me in a decent area for about 300k. It claims to pull in 2k/month in rent. After removing PITI on a 30 yr conventional loan, and expense reserve, you aren't even cashflowing (or you just barely are depending on estimates and shape of property) if you rent out both sides.
Now, there are certainly ways to make this a good investment (owner occupant comes to mind) but if you can't even command enough rent to get positive cash flow on a duplex, I would say that rental rates in the area are pretty favorable.
Rental rates are essentially at or a little over $1/sqft, which is not much different than other non-rural parts of the state, however, purchase prices are closer to $150/sqft compared to $90-100/sqft in other good area in south LA.
That gap tells me that the market may not be able to support such high housing prices, as rental rates have not risen at nearly the same rate as housing. This is all for Nola, to be clear.
Posted on 1/21/16 at 9:54 am to TheCaterpillar
quote:
Empathy =/= sympathy
Most of the O&G people I know dont want sympathy, they just want people to just understand unfortunate circumstances and not be a total prick.
Posted on 1/21/16 at 9:54 am to BamaChick
quote:
Yeah, nobody cared when the Bush Medicare Part D plans and Obamacare both gutted the pharmaceutical industry and 60% layoffs happened in my field.
Can you imagine the reaction if I posted something along the lines of "Glad everyone is cheering about your cheaper blood pressure medication while good people are getting laid off. Would it really kill people to pay $50 more a month for your meds?"?
I'd get downvoted into oblivion.
right, and there are plenty of other industries that go through cycles like this. We here more about oil here as so many are in the industry. Probably 25-30%of this board have O&G related jobs.
I can't feel bad about paying low prices, as it helps my bottom line and I don't set the price.
It's a shame sometimes, the ugly side of capitalism, it's just better for companies to cut jobs that they know they can hire back for less when things come back, (and they will, gas will be above $4 a gallon one day again) rather than retain workers and take large losses.'
Posted on 1/21/16 at 9:54 am to LSU0358
I'm pretty bearish on south Louisiana's economy short and medium term. I hope for the best, but it's probably wise to be prepared for a lot of business closures, a temporary downturn in the housing market, and a much more difficult job market. Compound that with higher taxes and reduced public spending, and it could be bad for other sectors as well.
Nonsense. Even though we aren't all in oil and gas....a lot of us grew up in a downturn like this, and many of us have been laid off at least once in 2008-2009.
Most people don't want to see their local economy destroyed or their home towns completely screwed.
quote:
Deep down, most people feel envy and resentment at those that are successful. They love to see those that have been successful pulled back into the misery of life.
Nonsense. Even though we aren't all in oil and gas....a lot of us grew up in a downturn like this, and many of us have been laid off at least once in 2008-2009.
Most people don't want to see their local economy destroyed or their home towns completely screwed.
Posted on 1/21/16 at 9:55 am to slackster
quote:
Or does that only apply if you own truck nuts?
I just can't help but believe that anyone who hangs nuts off the back of their truck deserves it to some extent.
Posted on 1/21/16 at 9:55 am to lsuhunt555
quote:
they just want people to just understand
People do. That's empathy.
quote:
not be a total prick.
People are going to be pricks. Lack of sympathy.
I agree people need sympathy. Its terrible so many folks are losing their jobs. I wish we could have $55 barrels.
Posted on 1/21/16 at 9:56 am to ihometiger
Question:
Who are the whinier bitches? Oilfield trash that swings their truck nuts in everyones faces when you mention cheap gas OR Soccer board whimps that get their pantyhose wadded up anytime you insult their bullshite "sport"?
Who are the whinier bitches? Oilfield trash that swings their truck nuts in everyones faces when you mention cheap gas OR Soccer board whimps that get their pantyhose wadded up anytime you insult their bullshite "sport"?
Posted on 1/21/16 at 9:57 am to Horsemeat
i don't have truck nuts.
Posted on 1/21/16 at 9:58 am to OceanMan
quote:
purchase prices are closer to $150/sqf
Where are you seeing this in New Orleans?
Posted on 1/21/16 at 9:58 am to SlowFlowPro
quote:exactly the reason I decided to suspend buying a new home until after this happens. Maybe can get a better bang for the buck.
i was kind of getting into this last night in the "buying your first house" thread. Nola and Laffy have a double issue of a massive real estate bubble AND the economic downturn looming. that's a massive 1-2 punch
Posted on 1/21/16 at 9:59 am to The Egg
quote:
i don't have truck nuts.
It would hard to hang them off of the spoiler of your suped up Civic
Posted on 1/21/16 at 10:00 am to TheCaterpillar
I remember a time when $120 couldn't even fill up my truck. Yikes
Posted on 1/21/16 at 10:00 am to stout
quote:
It would hard to hang them off of the spoiler of your suped up Civic
Chips the paint on the trunk with all that teabagging while the car moves.
Posted on 1/21/16 at 10:01 am to Napoleon
quote:
exactly the reason I decided to suspend buying a new home until after this happens. Maybe can get a better bang for the buck.
I suspect some Louisiana-based companies like Brown and Root will have a similar outlook...wait for the bottom and pick up several new businesses for cheap.
Posted on 1/21/16 at 10:02 am to Horsemeat
quote:
Question:
Who are the whinier bitches? Oilfield trash that swings their truck nuts in everyones faces when you mention cheap gas OR Soccer board whimps that get their pantyhose wadded up anytime you insult their bullshite "sport"?
I choose C: Morons like you that feel the need to toss out your dumbass opinion.
Posted on 1/21/16 at 10:02 am to OceanMan
quote:
Rental rates are essentially at or a little over $1/sqft, which is not much different than other non-rural parts of the state, however, purchase prices are closer to $150/sqft compared to $90-100/sqft in other good area in south LA.
Highly dependent on the location. $1.50/sqft for rent and 250-300/sqft, for purchase, in the the same area is common.
This post was edited on 1/21/16 at 10:04 am
Posted on 1/21/16 at 10:02 am to BamaChick
quote:
Yeah, nobody cared when the Bush Medicare Part D plans and Obamacare both gutted the pharmaceutical industry and 60% layoffs happened in my field.
that's because pharm sales reps are glorified sandwich delivery drivers
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