New Orleans Real Estate Market Taking Off
It looks like the New Orleans real estate market is booming as people are making decisions on the homes that were destroyed or damaged in Katrina. The speculators are moving in and inventory is changing hands a a rapid pace.
For the first quarter of the year, sales of single-family homes in the greater New Orleans area zoomed to $826 million, a jump of 60 percent over the first quarter of 2005, when sales totaled $517 million, according to New Orleans Metropolitan Association of Realtors; 3,829 residential units were sold, 960 more than the same period in 2005.
Experts say there’s nothing to be surprised about: One of the ironies of natural disasters is they’re often good for real estate. It’s a pattern real estate professionals witnessed in Florida after Hurricane Andrew and in Los Angeles in the aftermath of the Northridge earthquake.
“To use a terrible analogy, it’s like watching ‘Gone with the Wind’ for the fifth time,” said Arthur Sterbcow, president of Latter & Blum Inc., the 90-year-old real estate firm based in New Orleans. “It’s completely predictable. The market reacts the same way each time. It’s like watching a football game and having the play book in your hands.” via Chron.com
Very funny comparison. However you don't need to pay property tax on Barbies 3 Story Dream House. With the unemployment ...
My wife has actually decided to study for and get her real eatate licence just so we dont ever have ...
I like your analogy in this article. The real estate economy really is like a patient who you cannot ...
Real Estate is hyper-local. Every market is different. Phoenix has already hit bottom and is starting to recover. We have ...
Great to hear that the big boys
are predicting recovery sooner than
most think.
Thanks for the value! 
I agree--good analogy. You have to crawl before you can walk. Right now, at least in Austin, many people would ...
I live in the Philippines and I am glad we are not on the lists... 
I have a few Litograghs of Presidents homes , made by Richard V. Sebring. yr. 1990 Do they have any ...
