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Old 01-14-2009, 06:53 PM
 
Location: Louisiana
157 posts, read 514,333 times
Reputation: 49

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Has Louisiana caught up with the rest of the country and facing the same challenges with foreclosures and falling prices. I read in Lafayette where homes were on the market longer, but is it anticapted things are going to get worse? Can;t understand why Louisiana is not as affected as other states. Can someone explain this and also add input about falling prices.

If there are any realtors can you jump in.
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Old 01-14-2009, 06:56 PM
 
Location: Baton Rouge, LA
1,357 posts, read 4,980,595 times
Reputation: 372
Quote:
Originally Posted by GoreeGal View Post
Has Louisiana caught up with the rest of the country and facing the same challenges with foreclosures and falling prices. I read in Lafayette where homes were on the market longer, but is it anticapted things are going to get worse? Can;t understand why Louisiana is not as affected as other states. Can someone explain this and also add input about falling prices.

If there are any realtors can you jump in.
Things have softened some, but we're doing fine. I think there will be more softening if oil prices stay low.

As to why we're not as affected, the answer is very simple: we didn't boom like Las Vegas, Florida, and Phoenix, so we don't have an issue with housing bubbles. Plus, in hurricane ravaged areas, some homes are not in good condition, which reduces the supply some relative to the demand.
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Old 01-15-2009, 06:41 AM
 
Location: Baton Rouge
794 posts, read 3,066,916 times
Reputation: 242
Oh, it's coming. Yes, houses are staying on the market longer. And I've heard from a friend/realtor here that the crash is coming. She said that the signs have become more evident in the past month. I pretty much anticipated it because I just can't believe that a handful of states can be completely immune from what's going to turn out to be a pretty bad recession. But I am surprised at how much the state government and leadership have sugar coated the coming crash. They play it off as if we'll manage. And maybe we will, but people should at least be prepared. It's not going to be business as usual. That's just my thought.

Hurricane recovery, construction and high oil really has softened our blow so far.
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Old 01-15-2009, 09:09 AM
 
Location: NJ for now...
191 posts, read 627,904 times
Reputation: 334
Both NO and BR made Forbes top 25 strongest housing markets - not that I put much stock in their lists but it's nice to see those two areas highlighted.

In Depth: America's 25 Strongest Housing Markets - Forbes.com
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Old 01-18-2009, 09:28 PM
 
Location: B.A, Loyola; J.D., UMiami (2009)
2 posts, read 3,209 times
Reputation: 10
after Katrina prices went up like crazy, it seems inevitable that they'd come down eventually, especially with the economic disaster we're having.
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Old 01-19-2009, 07:05 AM
 
Location: Baton Rouge, LA
1,357 posts, read 4,980,595 times
Reputation: 372
Quote:
Originally Posted by Thibodeaux View Post
after Katrina prices went up like crazy, it seems inevitable that they'd come down eventually, especially with the economic disaster we're having.
And, in fact, the Advocate had an article here recently about home sales slowing in BR.
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