- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- 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
What is spurring the housing market in Louisiana if we are losing population?
Posted on 5/2/21 at 10:22 am
Posted on 5/2/21 at 10:22 am
Plus...Baton Rouge new construction seems to be on fire, as well as Lafayette.
16
Posted on 5/2/21 at 10:24 am to loogaroo
Low interest rates
Posted on 5/2/21 at 10:25 am to loogaroo
Didn't the census show we did not lose pop? We are just holding steady.
Posted on 5/2/21 at 10:25 am to loogaroo
The same thing that fueled the last housing bubble...
Posted on 5/2/21 at 10:27 am to loogaroo
too much liquidity chasing too few assets
Posted on 5/2/21 at 10:30 am to loogaroo
It's happening in TX like crazy as well.
At least for TX, you have lots of companies moving here, unfortunately lots are from California. Couple that with the number or people selling their houses in TX is ridiculously low. I talked with a realtor who said Denton Cty, north of DFW counties had 1/3 of the houses on the market than last year.
So people are staying put, especially in the burbs, then you have people wanting to move to the burbs, then you add in out of state people moving in and have housing prices crazy high.
So the builders are cranking out homes and new developments to meet the demand and those prices are crazy as well.
So I suspect a similar thing is happening LA. You might not have the influx of people from CA like TX does, but I suspect lots of people are trying to move to the different areas but nobody is selling.
At least for TX, you have lots of companies moving here, unfortunately lots are from California. Couple that with the number or people selling their houses in TX is ridiculously low. I talked with a realtor who said Denton Cty, north of DFW counties had 1/3 of the houses on the market than last year.
So people are staying put, especially in the burbs, then you have people wanting to move to the burbs, then you add in out of state people moving in and have housing prices crazy high.
So the builders are cranking out homes and new developments to meet the demand and those prices are crazy as well.
So I suspect a similar thing is happening LA. You might not have the influx of people from CA like TX does, but I suspect lots of people are trying to move to the different areas but nobody is selling.
Posted on 5/2/21 at 10:34 am to jp4lsu
A lot of buyers are investors and not homeowners in the classical sense. Many of these homes are not being lived in.
It is also very easy to buy lots of land here if you're a foreigner. That isn't the case in most of the world.
It is also very easy to buy lots of land here if you're a foreigner. That isn't the case in most of the world.
Posted on 5/2/21 at 10:35 am to loogaroo
Louisiana grew at 2.7% rate over the last decade.
Illinois, Mississippi, and West Virginia were the only states that lost population.
Illinois, Mississippi, and West Virginia were the only states that lost population.
Posted on 5/2/21 at 10:38 am to Wednesday
quote:
Low interest rates
Plus, people are scared to death about how this economy will react to the Biden influence....
Inflation and stock market drops are coming soon!
Posted on 5/2/21 at 10:38 am to loogaroo
Same people just moving around.
Posted on 5/2/21 at 10:39 am to loogaroo
quote:
What is spurring the housing market in Louisiana if we are losing population?
More like near stagnate population growth.
Still increased by 100k since the last census so technically not losing population as a whole.
Posted on 5/2/21 at 10:40 am to loogaroo
Areas that have jobs, don’t flood, and aren’t particularly dangerous are scarce and fetching high prices. Houses on Plank Road or in New Orleans East aren’t exploding in price.
New Orleans (due to its unique architecture, mild winters, and tourism) is also a big real estate market for out of state and international investors who buy up winter homes and rental properties or seek to relocate from New York/L.A.
New Orleans (due to its unique architecture, mild winters, and tourism) is also a big real estate market for out of state and international investors who buy up winter homes and rental properties or seek to relocate from New York/L.A.
This post was edited on 5/2/21 at 10:43 am
Posted on 5/2/21 at 10:40 am to oldskule
quote:
Plus, people are scared to death about how this economy will react to the Biden influence....
So their reaction to being scared to death about the economy is going out and paying over asking value on a new house?
Posted on 5/2/21 at 10:42 am to loogaroo
It’s very simple, people know we’re about to experience extremely high levels of inflation and the supply of land/houses is pretty much a constant, therefore it’s the safest investment avenue one can take. Even if there’s a bubble and crash in the housing market home prices don’t go down, they just don’t continue to sore, but with what’s about to happen with inflation we’re years from that.
Posted on 5/2/21 at 10:43 am to Powerman
They might see real estate as a more sound store of value than the stock market, bonds, or money markets.
Posted on 5/2/21 at 10:45 am to TigerintheNO
quote:
Louisiana grew at 2.7% rate over the last decade.
Not arguing with you. I've always heard people are leaving Louisiana, but my eyes tell me different.
quote:
6. Lousiana
Population loss: 10,896 people
Population: 4.65 million
Percent of population lost: 0.23%
https://worldpopulationreview.com/state-rankings/states-losing-population
Posted on 5/2/21 at 10:45 am to jp4lsu
quote:
You might not have the influx of people from CA like TX does
I have acquaintances in Slidell who sold to people from up east like NY and NJ.
Posted on 5/2/21 at 11:11 am to loogaroo
What’s fueling it is outside investors (Chinese in many cases) who are buying up everything they can for cash and turning them into rentals. It’s created an inventory shortage of housing that has regular buyers jumping at whatever becomes available and throwing ridiculous offers on the table.
Posted on 5/2/21 at 11:12 am to Wednesday
Rates are part of the reason but rates have been low for years. I had a 2.75% 15 years back in 2013 with no points.
Posted on 5/2/21 at 11:13 am to Toomer Deplorable
The last housing bubble wasn't caused by Obama, it was caused by Bush and his push for low intrest rates for minorities.
Trump ALSO tried to get the Fed to increase cheap money but the Fed would not.
Trump ALSO tried to get the Fed to increase cheap money but the Fed would not.
Page 1 of 3
Popular
Back to top
Follow TigerDroppings for LSU Football News