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Ultimately, does the recent uptick in crime affect the long-term real estate market in BR
Posted on 12/30/17 at 3:45 pm
Posted on 12/30/17 at 3:45 pm
I’m speaking of the perennial quality neighborhoods across the city, “non-hood”. With the recent rash of violence do you feel the long-term real estate market is contracting yielding deteriorating prices, or do you feel it’ll be unscathed and prices will hold steady?
Case in point, New Orleans real estate seems to be steady, if not ascending, and they have dealt with crime for years now.
Case in point, New Orleans real estate seems to be steady, if not ascending, and they have dealt with crime for years now.
13
Posted on 12/30/17 at 3:47 pm to Paul Allen
Dumbass 
Posted on 12/30/17 at 3:47 pm to Paul Allen
You sure do freak out about real estate once a week
Posted on 12/30/17 at 3:47 pm to Paul Allen
I don't see how it can help. BR isn't a draw for some outsiders like Nola is.
Posted on 12/30/17 at 3:47 pm to Paul Allen
How can it not? There’s no world where it doesn’t hurt it.
Posted on 12/30/17 at 3:47 pm to Paul Allen
Why do you care? Aren’t you jet settin down in Boca Raton?
This post was edited on 12/30/17 at 3:48 pm
Posted on 12/30/17 at 3:52 pm to Paul Allen
The only areas that won’t truly be affected are the very high dollar areas.
Posted on 12/30/17 at 3:54 pm to Rize
I’ve got several rentals across the metro BR area. Life is grand in Boca though.
Posted on 12/30/17 at 3:55 pm to Paul Allen
quote:
I’m speaking of the perennial quality neighborhoods across the city, “non-hood”. With the recent rash of violence do you feel the long-term real estate market is contracting yielding deteriorating prices, or do you feel it’ll be unscathed and prices will hold steady?
Very little of the violence has spilled over into the nice neighborhoods of the city (Garden District, Southdowns, Capital Heights, Goodwood, Bocage, Tara, Inniswald, Shenandoah, Highland, etc) any more than usual.
Baton Rouge's main economic drivers (LSU, state agencies, Exxon, Dow, etc) aren't going anywhere. The plants can't move, and they don't give a flying f&%k about street crime. They have cameras, fences, and armed guards.
The flood devastated the suburbs, so there's not really anywhere else to go. The nicest areas of Baton Rouge were also the areas that did not flood. This means that the city can only decline so much because there are not safe (from flooding), affluent suburbs to flee to. The suburbs are just about maxed out at this point.
I'm bullish on BR property values (at least in areas that did not flood). However, I am very wary of areas like off of O'Neal and Tigerbend that got several feet of water.
So no, BR is not going to go into some sort of Jacksonian or Detroit-esque collapse. Its tax base has nowhere to go.
Posted on 12/30/17 at 3:56 pm to Paul Allen
Nobody wants to pay for culcha and the financial undertow that comes with it.
Posted on 12/30/17 at 3:58 pm to Paul Allen
IMO, crime is the #1 reason for property values sucking in certain neighborhoods.
Posted on 12/30/17 at 4:00 pm to kingbob
I agree with u but those areas will get more and more expensive. Questionable areas like O’Neal, Tiger Bend, Sherwood Forest, Coursey will continue to get worse. More white flight to Ascension and LP.
Posted on 12/30/17 at 4:00 pm to kingbob
quote:
Its tax base has nowhere to go.
Texas or any other state aside from LA
Posted on 12/30/17 at 4:02 pm to East Coast Band
House Hunters ever go to BR??
Always loved when they showed them the first house, couple LOVES IT, then they say it's 200k above their budget.
Always loved when they showed them the first house, couple LOVES IT, then they say it's 200k above their budget.
Posted on 12/30/17 at 4:02 pm to Paul Allen
No it doesn’t. My friend is a realtor and had his best year ever. I recently sold my house off Bluebonnet for $430k after buying it for $350k seven years ago. It’s a sellers market in BR and has been for years.
Posted on 12/30/17 at 4:02 pm to ellesssuuu
quote:
I agree with u but those areas will get more and more expensive. Questionable areas like O’Neal, Tiger Bend, Sherwood Forest, Coursey will continue to get worse. More white flight to Ascension and LP.
White flight can only happen if there is affordable real estate to flee to. AP and parts of LP are starting to fill up. The prices for real estate in AP keeps going up and up too. It's starting to get unaffordable to buy in areas of AP and LP that didn't flood, and even many areas that did are MORE expensive than those fringe areas you're discussing, and not because housing prices are going down anywhere.
Posted on 12/30/17 at 4:03 pm to kingbob
quote:
Very little of the violence has spilled over into the nice neighborhoods of the city (Garden District, Southdowns, Capital Heights, Goodwood, Bocage, Tara, Inniswald, Shenandoah, Highland, etc) any more than usual.
A shooting just happened less than a half mile from Waldon/Kenilworth. The trash is moving into those areas.
Posted on 12/30/17 at 4:07 pm to In The Know
quote:
I recently sold my house off Bluebonnet for $430k after buying it for $350k seven years ago.
People pay that much for a house in Baton Rouge?
Posted on 12/30/17 at 4:11 pm to Paul Allen
quote:
Texas or any other state aside from LA
I'm talking about industry. Exxon may elect to expand in Corpus Christi rather than North Baton Rouge, but Exxon in North Baton Rouge isn't leaving. Will these plants stop needing maintenance? All of those construction baws are still needed to do that, so Cajun, ISC, Turner, Jacobs, etc aren't going anywhere.
The state government (the state's largest employer) isn't collapsing any time soon. They will continue to employ tens of thousands of people around Baton Rouge.
LSU isn't going anywhere. They will still employ hundreds of professors. LSU also fuels hundreds of businesses around campus that cater to students. It drives real estate prices up and up for rentals to students.
The hospitals aren't going anywhere. In fact, they are building a new Children's Hospital and just finished building another ER. They will still employ thousands of doctors, nurses, and staff.
Are all of those lawyers who service those industries going to disappear? Someone has to do the work, and it can't all be done in New Orleans or Houston.
If EBR's government would just get out of the way, and JBE would stop trying to raise taxes twice a year, BR would be primed for continuing the boom Kip started.
You want to see a city in decline? You should have seen BR before Kip took over. It looked like a Scooby-Doo ghost town for the most part. Now, those abandoned buildings are luxury hotels. Downtown is a destination for nightlife and dining. We have more festivals than ever, more cultural events, more small businesses, etc. Broome is threatening to set things back, but Baton Rouge still has some serious economic inertia.
Posted on 12/30/17 at 4:13 pm to Pintail
What you mean is a shooting happened a block off of Staring Lane, which has been a bad neighborhood for over 20 years.
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