I work in NOLA "big" law - Taking Qs
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Poast new message in this thread
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Date: June 12th, 2016 1:46 PM Author: greedy really tough guy
the market has been trending up, definitely. my point is that it's not a ridiculous market. stuff in some neighborhoods is overpriced to a degree, but decent housing in the city is very, very affordable for normal people. again, take a look at home prices in seattle, or fuck, even chicago, in places where you actually want to live and are manageable commutes, then get back to me. having grown up in the south, i can reliably say that southerners are spoiled and don't understand how fucked home prices are on the coasts.
also, they spell the stats out for you in that article:
"Rick Haase, president of Latter & Blum Inc., said the 46 percent figure is skewed by the fact that most of the sales activity is centered on higher-priced neighborhoods, while sales have been limited in traditionally more affordable neighborhoods like eastern New Orleans and the 9th Ward. Those neighborhoods had significantly more transactions before the storm, he said, but were decimated by Katrina."
so basically you have uptown and magazine street and the warehouse district etc driving all this, while the cheapest housing stock was basically wiped out of the market. even then, the average home price is like $330K. that's fucking great. yes your garden district mansion is still out of reach for normal people, but overall it's easy to move to NOLA and actually just buy a decent place to live without endless agony.
housing is like driving: everyone thinks their local situation is so fucked up and crazy. relatively speaking, it's usually just average. nola has a few hot neighborhoods right now and the post-K economy is ticking along. still overall very reasonable for urban living.
(http://www.autoadmit.com/thread.php?thread_id=3250972&forum_id=2#30683031) |
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Date: June 12th, 2016 2:04 PM Author: Black ceo
I'm not disagreeing with you.
I understand that relative to an Atlanta housing is relatively cheap but from the perspective of people that have lived there awhile, $350K for 1,500 sq ft (what my house is valued at in Uptown) is relatively expensive compared to 3-5-10 years ago. I felt like I over paid 5 years ago ($250K) so kind of lucked out.
Even now you're looking at $250K even in Central City which is downright scary, literally and figuratively.
(http://www.autoadmit.com/thread.php?thread_id=3250972&forum_id=2#30683196)
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Date: June 12th, 2016 4:38 PM Author: Black ceo
Like I said, I get it. I've lived away in a few other cities before coming back.
But it's a pet peeve of ours too that while relatively speaking prices are relatively low the working poor have been priced out of the city by carpetbaggers who want to capitalize on how cool Treme was.
My parents were very blue collar who never made more than around $80K combined with my mom working a second job at McDonald's for awhile and there's no way they could now afford to live in the city unless we wanted to live in the East or 7th ward.
So yeah, understanding that dream is pretty much dead unless there's another housing bubble is tough to swallow.
(http://www.autoadmit.com/thread.php?thread_id=3250972&forum_id=2#30684516) |
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Date: June 12th, 2016 5:48 PM Author: Black ceo
Look I'll reiterate for the 3rd time - I get it. It's still relatively cheap.
But I think it'd be a lot more tolerable if the impetus was some sort of boom that helped the entire city (e.g., some kind of tech boom) but it's outside investment targeted towards tourism where the proceeds leave the city (e.g., air bnb) or second homes.
My house appreciated 40% because everyone is making a lot more money now? Sure.
Because some Manhattan-ite wants a Mardi Gras home that he will Air BNB for the rest of the year (true story - )? Not fine.
http://www.nytimes.com/2016/03/06/business/airbnb-pits-neighbor-against-neighbor-in-tourist-friendly-new-orleans.html?_r=0
(http://www.autoadmit.com/thread.php?thread_id=3250972&forum_id=2#30685057) |
Date: June 14th, 2016 2:09 PM Author: flatulent chapel
i thought nobody from there called it "Nola?"
did they ever catch the dude who shot the Tulane med student and then tried to execute him but the gun jammed?
(http://www.autoadmit.com/thread.php?thread_id=3250972&forum_id=2#30701697) |
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