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re: Where does the money come from to support home prices in Lakeview?
Posted on 4/4/22 at 1:26 pm to jordan21210
Posted on 4/4/22 at 1:26 pm to jordan21210
I'm a young professional who is buying a house in Metairie. Will be about 25% of my take home pay in mortgage/flood/homeowner insurance. All it took was 6 years living in a tiny apt, keeping my A/C at 78 degrees year round. Taking no trips or vacations and saving up to put enough down to keep my monthly payments low. I have eaten more tuna and Ramen then I care to think about. I would likely never be able to afford Uptown, Old Metairie, or Lakeview. Nor would I want to live in Orleans Parish. There are probably people who can do that for a while plus have 2 incomes which allows them to afford Lakeview.
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Posted on 4/4/22 at 1:32 pm to lsupride87
quote:
Lakeview has all the price, headaches, and carjacking crime of Orleans with none of the actual benefits the city offers in places like Uptown, mid city, or the cbd/FQ
People making the money to live in a $800k house don’t want a 60’s ranch even if it is 30% less. And if they buy one to knock down, then they’re stuck having the nicest house by far on the block. Lakeview has a completely different feel than most of Metairie outside OM.
Posted on 4/4/22 at 1:35 pm to NOLAVOL16
What neighborhood are you referring to? Bucktown is steadily turning into Lakeview without all the headaches. Most lots are bigger too.
Posted on 4/4/22 at 1:37 pm to midcitycid
quote:
i implore my brethern in lakeview to petition to be annexed by jeff parish.
West Lakeview tried to do this back in the 90's, obviously it was shot down...
quote:
lakeview has more in common with eastern metry than it is with the rest of the city. the uptowners consider lakeview to be metry anyway,
That's interesting because that's NO biggest tax base by far...
Posted on 4/4/22 at 1:39 pm to pnut53088
It will get there eventually. Nowhere close to it now though outside of a very few small pockets which also aren’t 30% less.
Posted on 4/4/22 at 1:42 pm to NOLAVOL16
Houses are listing about 20% less per sqft in buck town compared to Lakeview. Throw in tax and insurance difference and you are looking at 30%
This post was edited on 4/4/22 at 1:43 pm
Posted on 4/4/22 at 1:44 pm to NOLAVOL16
quote:
People making the money to live in a $800k house don’t want a 60’s ranch even if it is 30% less. And if they buy one to knock down, then they’re stuck having the nicest house by far on the block. Lakeview has a completely different feel than most of Metairie outside OM.
Tell me you haven't been in Bucktown lately without telling me
Posted on 4/4/22 at 1:46 pm to lsupride87
quote:
Houses are listing about 20% less per sqft in buck town compared to Lakeview. Throw in tax and insurance difference and you are looking at 30%
I’m sure they are. What’s the level of finishing in those houses though? Do they have a modern floor plan and 9-10’ ceilings? Unless the thing has been built on top of a knockdown in the last few years, you’re looking at a 60’s-80’s house with 8’ ceilings that needs a complete renovation to bring it up to what the majority of Lakeview houses now look like.
Posted on 4/4/22 at 1:47 pm to yaboidarrell
quote:
Turning into Central America
Ah okay purely a race thing, gotcha.
Posted on 4/4/22 at 1:50 pm to NOLAVOL16
I don’t know about all that. Still a decent amount of unkept houses/rental properties in LV.
Lots/new build construction costs are similar, although with a 20% reduction property tax alone. With better roads, public services, significantly lower crime, walkability to lakefront, etc.
Lots/new build construction costs are similar, although with a 20% reduction property tax alone. With better roads, public services, significantly lower crime, walkability to lakefront, etc.
Posted on 4/4/22 at 1:51 pm to NOLAVOL16
Sounds like you haven’t been in bucktown recently haha. $800k+ homes are going up on almost every block
Posted on 4/4/22 at 1:53 pm to NOLAVOL16
Posted on 4/4/22 at 1:54 pm to lsupride87
quote:
However, you can jump over the canal and have the exact same thing for 30% reduction in cost and the only thing that changes is you can’t say you live in New Orleans
Jumping over the canal from lakeview means you are living off of west esplanade, veterans or bonnabel. So you aren’t just losing an address, you are losing tree canopy, walkability, proximity to city park, decent selection of private and public schools, and easy access to downtown via surface streets.
Posted on 4/4/22 at 1:56 pm to NOLAVOL16
The third house is faaaaaar more appealing than the first for most couples in the south. That first house is hideous
Posted on 4/4/22 at 1:58 pm to lsupride87
The third house will be a tough sell since it’s the first house off w. esplanade.
Same with the second house, although that one isn’t new or in bucktown.
I wouldn’t buy the first one on looks alone haha
Same with the second house, although that one isn’t new or in bucktown.
I wouldn’t buy the first one on looks alone haha
Posted on 4/4/22 at 2:00 pm to ned nederlander
quote:disagree
you are losing tree canopy
quote:Lakeview doesn’t have walkability
walkability
It’s a suburb just like Metairie quote:this I’ll give you
proximity to city park
quote:Lakeview to bucktown changes your choice of private schools? Hynes I’ll give you, but I personally don’t know any of my Lakeview friends that actually use hynes
decent selection of private and public schools
quote:Getting to downtown and especially uptown seems as easy or easier in east Metairie than Lakeview
easy access to downtown via surface streets.
Posted on 4/4/22 at 2:01 pm to lsupride87
quote:
The third house is faaaaaar more appealing than the first for most couples in the south. That first house is hideous
I kinda like the second one better than the first.
Posted on 4/4/22 at 2:01 pm to lsupride87
I wouldn’t buy the first one either. Not my taste. It was just the first 800k listing I found. Point being, houses with a high level of finishing are the same in both places.
Posted on 4/4/22 at 2:03 pm to White Roach
quote:
It's systemic racism and White privilege. Generational wealth has been passed down to ensure the exclusion of People Of Color in that neighborhood.
If you are black and have the money you can buy in Lakeview.
quote:
That's why feral hood rats are reduced to burglarizing cars after sunset. Those young entrepreneurs are just making their attempt for equity and social justice.
Posted on 4/4/22 at 2:14 pm to lsupride87
quote:
However, you can jump over the canal and have the exact same thing for 30% reduction in cost and the only thing that changes is you can’t say you live in New Orleans
I would say apples to apples really isn't that much of a price difference. The big difference is that most of LV is relatively new homes built after Katrina. Go look at new or <10 year old houses in Metry and the prices are similar to LV (especially on the east side of Metry). Although I personally would pay more for the same house in Metry than LV to stay out of Orleans parish and all the issues LV faces that most of JP doesn't.
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