Home Prices WAY out of whack!! (New Orleans, Claiborne: real estate, house prices, neighborhoods)

[Mwahfromtheheart]

If a picture could speak a thousand words...



I don't know what to say... and not just about the 1.6 million dollar house on Elysian Fields and Claiborne. Wasn't there somebody killed on that corner a couple years ago in broad daylight in an Auto Zone parking lot? I used to live just across the tracks and that whole area is not very cute. Idk, maybe things are changing THAT rapidly...

[sconley9922]

I think that's off big time. Is this an early April fools day joke?

[Tiger Beer]

Regardless if that one is off or not...

In general, I have been going to zillow and checking out New Orleans, and I was quite surprised how expensive housing is in any desirable to somewhat desirable neighborhood in the city.

[Hollytree]

Housing in any desirable and safe section of a city, especially one with the historic charm of New Orleans, is expensive.
Look at Charleston, Savannah, San Francisco, Boston, Providence, Williamsburg, etc. Even the tiny historic area of Austin is very expensive.

If you want cheap, you have to go to new construction developments in post WWII cities which have plenty of room to expand or to the midwest or rust belt in the middle of the country- states like Ohio or Kansas.

[Chilly Gentilly]

That's a listing for 2 office buildings in Gentilly, one of them being a UPS Store(The UPS Store - #5891, NEW ORLEANS, LA -)

From the listing:

Two office buildings (1631 Elysian Fields & 1638 Marigny) on three parcels (lots of parking spaces) sold as one in an upcoming vibrant and striving area just minutes from the I-10 & I-610. Surrounded by retailers, Auto Zone, Family Dollar, CVS Pharmacy, restaurant. Buildings totally renovated in 2007 functioning as Law Offices and UPS Store. A growing area in The Faubourg St. Roch community. Great Location!

[Cali504]

The housing market here is ridiculous and as long as these out of towners buy these over inflated properties it will continue. I work in Bywater where a shotgun has been on the market over 7 months for $895,000. At least in other states they have brand new homes with amenities and great schools which is why I refuse to buy here.

[Tiger Beer]

Originally Posted by Hollytree

Housing in any desirable and safe section of a city, especially one with the historic charm of New Orleans, is expensive.
Look at Charleston, Savannah, San Francisco, Boston, Providence, Williamsburg, etc. Even the tiny historic area of Austin is very expensive.

If you want cheap, you have to go to new construction developments in post WWII cities which have plenty of room to expand or to the midwest or rust belt in the middle of the country- states like Ohio or Kansas.

Unfortunately, I can't stand suburbs, mcmansions, strip malls, car culture.

[Neworleansisprettygood]

It's commercial property on a high-traffic street. House prices are booming as a function of the city population and economy having high growth rates.

[rburnett]

The real estate run up is much more pronounced than even a few years ago. We just sold our house in Mid City for 35% more than we bought it for 4 years ago. No way we could afford our neighborhood now. The demand is pushing up prices everywhere. People who can't afford certain neighborhoods are spilling into adjacent areas and driving prices up there.

Western Gentilly may be the last truly safe, affordable area on the Eastbank of New Orleans, but prices are creeping up by the month.

[Hollytree]

Originally Posted by Tiger Beer

Unfortunately, I can't stand suburbs, mcmansions, strip malls, car culture.

You and a lot of others. Look at smaller less well known towns that are walkable?