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(ABC)   Louisiana real estate booms after Katrina   (abcnews.go.com) divider line 85
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18047 clicks; posted to Main » on 09 Sep 2005 at 11:27 AM (9 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2005-09-09 10:33:00 AM
It's like throwing a piece of meat into a group of stray cats.
 
2005-09-09 11:02:19 AM
You think this is crazy, wait until New Orleans is reopened. Developers will likely buy up whole blocks and build ugly apartment buildings and McMansions.
 
2005-09-09 11:10:51 AM
Yea, but that's going to be at least two years from now. Plus technically those people who have lost their homes completely will still own the land property that they are/were on.
 
2005-09-09 11:29:35 AM
as in go "BOOM"?
 
2005-09-09 11:30:21 AM
New Orleans = Delta City?
 
2005-09-09 11:30:33 AM
correct, FarkingLikeIts1999.

and they will sell it cheap.
 
2005-09-09 11:31:21 AM
No Obvious tag? wtf?
 
2005-09-09 11:32:18 AM
obvious?
 
2005-09-09 11:32:46 AM
Uh.. something about levees. It was profound and meaningful, but now it's gone from my mind. I wonder what I was going to say.
 
2005-09-09 11:33:01 AM
It would be nice if submitters read the articles occasionally.



/another vote for the obvious tag
 
2005-09-09 11:33:47 AM
Is New Orleans even considered "land" anymore? I figured it would be classified as "the bottom of the Gulf" now.
 
2005-09-09 11:35:31 AM
And if you believe that, I've got some swampland in...oh, never mind.
 
2005-09-09 11:35:46 AM
FarkingLikeIts1999: technically those people who have lost their homes completely will still own the land property that they are/were on


Sort of, but in the actual city there were lots people who didn't own anything. Most of the poor people rented so they're SOL if the government doesn't ensure that there's affordable housing rebuilt. There will be lucrative offers to build nicer condos and apartments in the city for the people with means who were tired of commuting.
 
2005-09-09 11:36:35 AM
This time they will do what Chicago did & actually build-up over a swamp instead of building flat & let sink.
 
2005-09-09 11:36:41 AM
It would be equally nice if the dumbasses in this thread read the articles occasionally.
 
2005-09-09 11:37:57 AM
Memo To All:

Disasters, natural and/or man-made, are always what profiteers most desire. In addition; New Orleans, with so much un-exploited real state accompanied with a rich historical legacy lends itself to this 'opportunity'. Props to my Accounting and Microeconomics professors.
 
2005-09-09 11:39:23 AM
We're now trying to buy a house in Baton Rouge. It's been very unsuccessful.
My sister had a house listed for $150k on the market before Katrina, and 4 days after Katrina someone called and offered them $170k CASH for it.
Also, all apartment buildings here are 100% full.
 
2005-09-09 11:40:22 AM
well I was going to mention 'obvious' but it looks like people have beaten me to it, so I'm going to go with 'boobies' for no particular reason
 
2005-09-09 11:40:46 AM
i wonder what is going to happen to land/home/whatever owners of stuff in 'nawlins

/ love nola
// saw dave and tim in 96 at state palace theatre
/// on five hits of acid
//// into the light surprised
/////slashy?
 
2005-09-09 11:41:34 AM
Reliable sources say that George Bush bought all the empty lots in Baton Rouge 2 weeks ago.
 
2005-09-09 11:42:35 AM
DirkValentine

We wait the fark around.
 
2005-09-09 11:44:02 AM
Red Stick is such a laughably stupid name for a city.
 
2005-09-09 11:44:53 AM
When the Levee Breaks by Led Zepelin.

If it keeps on rainin, levees goin to break,
If it keeps on rainin, levees goin to break,
When the levee breaks Ill have no place to stay.
Mean old levee taught me to weep and moan,
Lord, mean old levee taught me to weep and moan,
Got what it takes to make a mountain man leave his home,
Oh, well, oh, well, oh, well.
Dont it make you feel bad
When youre tryin to find your way home,
You dont know which way to go?
If youre goin down south
They go no work to do,
If you dont know about chicago.
Cryin wont help you, prayin wont do you no good,
Now, cryin wont help you, prayin wont do you no good,
When the levee breaks, mama, you got to move.
All last night sat on the levee and moaned,
All last night sat on the levee and moaned,
Thinkin bout me baby and my happy home.
Going, gon to chicago,
Gon to chicago,
Sorry but I cant take you.
Going down, going down now, going down.
 
2005-09-09 11:46:02 AM
The generally residents of many of the old wooden homes in the 9th Ward -- those that almost certainly will not be livable or repairable and will end up being bulldozed -- are actually multi-generational. They inherited their homes and the land they sit on is the only thing of value they have. I suspect even a small empty lot down there is going to be worth serious money in a few months, especially when a developer can hook together several adjacent lots. If they play it right, a lot of folks might get enough out of the residue of their homes to set up someplace else, in a less damaged area. . . .
 
2005-09-09 11:46:45 AM
Of course - it's all waterfront property now
 
2005-09-09 11:46:55 AM
Disdainful

Agreed. Sounds much better in French (as do most things).
 
2005-09-09 11:48:00 AM
Red Stick is such a laughably stupid name for a city.

Don't make fun of what you don't understand the history of. Look up "Baton Rouge" on Wikipedia and learn something before you shoot off your mouth.
 
2005-09-09 11:49:31 AM
Sorry -- that was supposed to be "The generally poor residents" . . .
 
2005-09-09 11:51:00 AM
No gouging comments yet?
 
2005-09-09 11:55:34 AM
patent holder: No gouging comments yet?

Gouge Away
 
2005-09-09 11:57:47 AM
The story is only partially accurate. I live in BR. It's hit or miss on the real estate. The high end homes are being bought up by corporations for their executives. They can afford the tax loss if they can't resell for what they pay (this is especially true for ExxonMobil since they stand to make $10 billion this quarter).

There are 3 houses for sale in Wimbledon Subdivision in Baton Rouge that have been on the market for a while. Not a single one has sold since the hurricane. It's a nice subdivision.

The rumored real estate boom in BR is a lot of hype. There are areas that are booming, but others remain untouched.

It's the rental property that is all gone. None to be had. If I could get an apartment, I'd try to sell mine.

Baton Rouge is an interesting place these days. Too many people, not enough roads.
 
2005-09-09 11:57:50 AM
The people who keep sniffing haughtily that "New Orleans was built below sea level so what do they expect" don't know the facts. All of N.O. was at or above sea level when it was founded; it's been sinking steading for 200 hundred years, just like Venice. Part of that is the weight of the city itself, part of it is a result of water, oil, and gas extraction leaving nothing below to hold it up, and part of it is a general sinking of the Gulf Coast and rise in ocean levels. Anyway, how far above sea level is Miami?

Those who say the city should be abandoned are assuming the U.S. has no need of a major seaport at the bottom of the Mississippi. Want to try that argument on the oil industry and international trade in general?

Having said that, I don't doubt N.O. will "do an Atlantis" within the next generation or three, but I'm willing to let Nature take its course. We can always build the new seaport at Natchez. . . .
 
2005-09-09 11:59:39 AM
Yes, because we all know that those 70 miles away from New Orleans will completely protect New Orleanians from the next hurricane.
 
2005-09-09 12:01:19 PM
if the government doesn't ensure there is afordable housing built

Question, why rebuild housing projects THERE? Not to knock the poor people, but they have proven to be difficult to evacuate (lack of own trasportation, willingness to go), caused lots of problems when they got stuck there, and have the least resources to cope with recovery.

If you are going to have subsizdized housing, why not build it 10 miles away, on high ground, and just ensure good transit to the places they will work in the city proper? This way if you have another storm, they don't get stuck in a flood plain.
 
2005-09-09 12:02:39 PM
I'm willing to sell my home in New Orleans I bought a week before the hurricane hit. Slight water damage.
 
2005-09-09 12:03:13 PM
The story is only partially accurate. I live in BR.

Me, too. Houses for sale in Oak Hills (where I am) and Shenandoah (where my daughter is) have suddenly taken in their for-sale yard signs. Several realtors have told me the owners are expecting to sell for far more in a year or so. We'll see.

And I'm afraid the traffic load is never going to be the same again, even after the refugees -- excuse me, "evacuees" -- have returned to N.O. I may retire a year or two early, just to avoid the drive in rush hour.
 
2005-09-09 12:05:02 PM
I know, I know, the tribal boundary marker. That doesn't stop Red Stick being a silly name..
 
2005-09-09 12:10:25 PM
Again, no surprise.

Bidding for the right to soak up FEMA dollars, while paying illegal-Mexican wages to the folks that life there...suspension of prevailing wage-make the rich richer, quicker!

PROFIT!

/Coroporate America at work - Business as usual...
 
2005-09-09 12:12:27 PM
Disdainful

"Red Stick" is what happens after you catch the clap;

The French were masters of metaphor and Baton Rouge is where many went to recuperate after orgying up a storm in Nouvelle Orleans!
 
2005-09-09 12:12:39 PM
I don't think the author knows what an oxymoron is.
"rental vacancy"-I don't get it?
 
2005-09-09 12:17:49 PM
Buy, buy...Sell, sell...Profit, profit, profit, profit.
 
2005-09-09 12:18:48 PM
Dorothy Day
Again, no surprise.
Bidding for the right to soak up FEMA dollars, while paying illegal-Mexican wages to the folks that life there...suspension of prevailing wage-make the rich richer, quicker!

Beat me to it, white collar welfare. My only hope is that years of hidden illegal dumping by petrochemical companies will come to light and make the buyers choke on their liability risk.
 
2005-09-09 12:19:57 PM
Come back to this thread in 8 years when everyone has forgotten about Katrina and there are massively wealthy apartment builders ruling the area
 
2005-09-09 12:21:27 PM
07734

You think this is crazy, wait until New Orleans is reopened. Developers will likely buy up whole blocks and build ugly apartment buildings and McMansions

Pretty much what I was thinking

/And they're going to be Double-Plus Un-GOOD UGLY....
 
2005-09-09 12:21:28 PM
I'll never be able to afford a house in BR.
 
2005-09-09 12:22:21 PM
How many people who lost everything will still own the lots their homes where on 2 years from now? Some will sell their lots to 'carpetbaggers' (for lack of a better word), and some will lose their property because they won't think to pay the taxes on it.
 
2005-09-09 12:25:10 PM
mksmith: Yes, but if you just tear down the levees you will get a natural port above sea level. Build new port there.
 
2005-09-09 12:25:19 PM
The displaced citizens of NOLA and hinterlands need to think about going to Galveston Island. Galveston is a lot like NOLA but it's in Texas which makes it a lot better - with charming old homes and tourist sections but it's for the most part behind a seawall and not as dangerous as NOLA. Great restaurants in Galveston too and super cheap to live plus homes are not expensive. Galveston is home to the huge Univ. of Texas Medical Center (UTMB) which also provides free or low fee care for the uninsured.

Also, with Galveston Island you get the beach too and there is a Great Mardi Gras every year just like NOLA.

Galveston is paradise and the best kept secret in the USA.
 
2005-09-09 12:27:00 PM
blogma: Galveston is paradise and the best kept secret in the USA.


pass the peace pipe or whatever the fark it is your smoking, cuz it's friday, and i want to get high.
 
2005-09-09 12:31:55 PM
I'll see your old-n-busted Led Zep Lyrics and raise ya one with "Louisiana" by Randy Newman

What has happened down here is the wind have changed
Clouds roll in from the north and it started to rain
Rained real hard and rained for a real long time
Six feet of water in the streets of Evangeline

The river rose all day
The river rose all night
Some people got lost in the flood
Some people got away alright
The river have busted through cleard down to Plaquemines
Six feet of water in the streets of Evangelne

CHORUS
Louisiana, Louisiana
They're tyrin' to wash us away
They're tryin' to wash us away
Louisiana, Louisiana
They're tryin' to wash us away
They're tryin' to wash us away

President Coolidge came down in a railroad train
With a little fat man with a note-pad in his hand
The President say, "Little fat man isn't it a shame what the river has
done
To this poor crackers land."
 
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