U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Louisiana > Shreveport-Bossier City
 [Register]
Shreveport-Bossier City Bossier Parish, Caddo Parish, De Soto Parish
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 07-02-2010, 03:41 PM
 
137 posts, read 608,933 times
Reputation: 129

Advertisements

I'm coming to the Shreveport area in a couple of weeks to investigate a job.
My contact there says there is somewhat of a boom in the upscale housing market, due to a discovery of a Natural Gas reserve. He says many farmers, ranchers, and other landowners are making a killing selling or leasing their land to the Nat. Gas companies and therefore many ppl have excess $ for multi million dollar housing projects. Sound familiar to anyone? Do I have the story straight? Sound too good to be true?
Rate this post positively Reply With Quote Quick reply to this message

 
Old 07-03-2010, 09:46 PM
 
Location: Chicago--Bucktown
425 posts, read 1,376,690 times
Reputation: 172
You aren't wrong, there is a lot of money flowing around (at least according to my parents who still live there, I got out of dodge a long time ago).

But I wouldn't count on all this money being used to fund new housing developments. Shreveport was a prime location for the "Dallas-style" suburb developments, where companies come in and build subdivisions of 1000+ homes in a few months, and there is a large housing oversupply as is.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-04-2010, 01:12 AM
 
137 posts, read 608,933 times
Reputation: 129
Quote:
Originally Posted by hank0604 View Post
You aren't wrong, there is a lot of money flowing around (at least according to my parents who still live there, I got out of dodge a long time ago).

But I wouldn't count on all this money being used to fund new housing developments. Shreveport was a prime location for the "Dallas-style" suburb developments, where companies come in and build subdivisions of 1000+ homes in a few months, and there is a large housing oversupply as is.
Understood, however I'm wondering specifically about High End Housing ( million dollar + homes ).
If there is new money flowing I wouldn't think that these folks, suddenly worth millions, would think about purchasing $150,000 tract housing property.
I'm in High End custom residential millwork, cabinetry, and woodwork. My industry has taken a HUGE hit and if new housing starts in this category are still going in Shreveport, then it is the country's best kept secret for my industry.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-04-2010, 07:06 AM
 
1,903 posts, read 4,405,059 times
Reputation: 5175
The demographic you speak of does not exist. Yes, there's a lot of hillbillies getting huge royalty checks, but even these are not " worth millions". There are people making a killing, but there's not enough of them to create your desired boom in multi-million dollar housing. Your inquiry stinks of California Gold rush dynamics, and I'm here to tell you Shreveport is not gonna cut the mustard in that regard.


There's a decent oversupply of housing in Shreveport. The fact of the matter is that the economic activity associated with the relocation of a a dozen or so thousand roughnecks into the area, coupled with a couple hillbillies getting royalty checks for a useless patch of land they had for 30 years, now worth millions in discovery money, was enough to mask the insolvency of our 250-750K housing buyers and fuel the housing boom that the area has seen. Outside that accidental spurt, the the consistent tax base of the MSA had always been the military, which consistently buys 250-750K homes, never higher, as their incomes are as set in stone as the tables you can find them in.

Yes, the housing market in Shreveport/Bossier did not see a huge correction due to these economic inputs, but we're still due our hiccup. Bossier city is overbuilt like it's going out of style, people are trying to build in Benton to find their suburban heaven. The way it's going they're gonna be building in the Arkansas border to find what they're looking for. And make no mistake, these people are one spouse layoff away from losing their shirt. These folks are NOT the proverbial oil tycoon that can substantiate your multimillion dollar home starts; these folks are nurses, wives of roughnecks, roughnecks, landmen (glorified secretaries), who shouldn't be making 10K/mo in the first place, et al. These people don't save squat, these people live hand to mouth. These people will default en masse once Haynesville Shale dies down within the next decade, and there will be another exodus for the exit doors of Houston, South Louisiana and Dallas/Fort Worth, where they can find the day job they quit in the first place that didn't fare them as well because of the higher cost of living. Then Shreveport/Bossier will get stuck with HUGE oversupply of housing, and the only constant once again will be the military component and the healthcare parasite industry it substantiates. If you wish to spend the capital outlay to set up infrastructure to service the castle in the sand of Shreveport/Bossier multi-million dollar housing then knock yourself out, but you'll be holding an empty bag in 10 years, mark my words. If you paid somebody to give you the opposite advice, they sold you a bridge to nowhere and you probably should ask for your money back.

Go to North dakota and their oil sands, they got the same dynamic going. Ice-fishing hillbillies getting obscene royalty checks. Yet you don't see much multi-million dollar igloos getting built in the perma-frozen tundra. These things create huge economic activity, but at the retail level (your end customer) it simply doesn't trickle enough to make it count. If anything I would argue North Dakota is prime for the picking housing volume wise, as they don't have the oversupply we do. That said, that has more to do with the fact nobody wants to move to the end-cliff of the Earth (literally), million bucks or no million bucks. Only the same roughnecks that moved down here are moving up there, and they too will be leaving like clockwork. Energy is a boom-bust nomadic ***** of an industry. One would be foolish to throw anchor on the income it provides you.

I wish you luck in your search for the next Tampa, FL correction disaster. I don't wish you ill-will but I think the housing industry (particularly high end) is a toxic parasite that creates no value and profiteers off the ill-conceived government policy of pushing home loanership on the stupid, like a cheap drug. We don't need more gold rush, we need more sustainable and utilitarian-based inert housing behavior. But inert housing patterns don't put the kids thru private school, get you the vaca' money to Vegas or buy you the two new cars every two years and the toys, noted.


P.S. You do realize asking about capital investment advice in an anonymous free public forum is like taking stock picks from MSNBC? That when the peanut gallery (i.e. me) knows something, you're already too late to the party? I hope you've heard that before. I don't wish you put your family in further peril by making another economic mistake.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-12-2010, 06:31 PM
 
137 posts, read 608,933 times
Reputation: 129
Quote:
Originally Posted by hindsight2020 View Post
The demographic you speak of does not exist. Yes, there's a lot of hillbillies getting huge royalty checks, but even these are not " worth millions". There are people making a killing, but there's not enough of them to create your desired boom in multi-million dollar housing. Your inquiry stinks of California Gold rush dynamics, and I'm here to tell you Shreveport is not gonna cut the mustard in that regard.


There's a decent oversupply of housing in Shreveport. The fact of the matter is that the economic activity associated with the relocation of a a dozen or so thousand roughnecks into the area, coupled with a couple hillbillies getting royalty checks for a useless patch of land they had for 30 years, now worth millions in discovery money, was enough to mask the insolvency of our 250-750K housing buyers and fuel the housing boom that the area has seen. Outside that accidental spurt, the the consistent tax base of the MSA had always been the military, which consistently buys 250-750K homes, never higher, as their incomes are as set in stone as the tables you can find them in.

Yes, the housing market in Shreveport/Bossier did not see a huge correction due to these economic inputs, but we're still due our hiccup. Bossier city is overbuilt like it's going out of style, people are trying to build in Benton to find their suburban heaven. The way it's going they're gonna be building in the Arkansas border to find what they're looking for. And make no mistake, these people are one spouse layoff away from losing their shirt. These folks are NOT the proverbial oil tycoon that can substantiate your multimillion dollar home starts; these folks are nurses, wives of roughnecks, roughnecks, landmen (glorified secretaries), who shouldn't be making 10K/mo in the first place, et al. These people don't save squat, these people live hand to mouth. These people will default en masse once Haynesville Shale dies down within the next decade, and there will be another exodus for the exit doors of Houston, South Louisiana and Dallas/Fort Worth, where they can find the day job they quit in the first place that didn't fare them as well because of the higher cost of living. Then Shreveport/Bossier will get stuck with HUGE oversupply of housing, and the only constant once again will be the military component and the healthcare parasite industry it substantiates. If you wish to spend the capital outlay to set up infrastructure to service the castle in the sand of Shreveport/Bossier multi-million dollar housing then knock yourself out, but you'll be holding an empty bag in 10 years, mark my words. If you paid somebody to give you the opposite advice, they sold you a bridge to nowhere and you probably should ask for your money back.

Go to North dakota and their oil sands, they got the same dynamic going. Ice-fishing hillbillies getting obscene royalty checks. Yet you don't see much multi-million dollar igloos getting built in the perma-frozen tundra. These things create huge economic activity, but at the retail level (your end customer) it simply doesn't trickle enough to make it count. If anything I would argue North Dakota is prime for the picking housing volume wise, as they don't have the oversupply we do. That said, that has more to do with the fact nobody wants to move to the end-cliff of the Earth (literally), million bucks or no million bucks. Only the same roughnecks that moved down here are moving up there, and they too will be leaving like clockwork. Energy is a boom-bust nomadic ***** of an industry. One would be foolish to throw anchor on the income it provides you.

I wish you luck in your search for the next Tampa, FL correction disaster. I don't wish you ill-will but I think the housing industry (particularly high end) is a toxic parasite that creates no value and profiteers off the ill-conceived government policy of pushing home loanership on the stupid, like a cheap drug. We don't need more gold rush, we need more sustainable and utilitarian-based inert housing behavior. But inert housing patterns don't put the kids thru private school, get you the vaca' money to Vegas or buy you the two new cars every two years and the toys, noted.


P.S. You do realize asking about capital investment advice in an anonymous free public forum is like taking stock picks from MSNBC? That when the peanut gallery (i.e. me) knows something, you're already too late to the party? I hope you've heard that before. I don't wish you put your family in further peril by making another economic mistake.

I was merely asking a question to the " peanut gallery" about the state of things.
I sensed a lot of venom in this response, unless I'm misinterpreting *( which is always entirely possible).
I don't need lectures about economics, investment advice, etc.
Dude, I'm a blue collar guy. I'm a high end cabinetmaker looking for work.
There is a company in Shreveport interested in hiring me , and I was asking if there is a viable housing market there.
End of story.
Honestly , I agree with most of your comments.
Mcmansion style housing developments are an abomination on many levels.
Everyone expects to live like Rock Stars nowadays, and the roof will cave in ( is caving in ? ) .
Anyway, thanks for the reply.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 08-13-2010, 11:58 AM
 
35,552 posts, read 55,118,364 times
Reputation: 22607
when we lived in Shreveport decades ago there were lovely homes in existence and some builders building lux homes for wealthy people...housing was expensive back then compared to Houston where we moved from...we thought we would get more for less and wound up paying more for less...
mainly because of the socio-economic areas Shreveport was layered into good/bad areas and there was not a lot of overspill--
don't know about now but I know there has been lot of building in past 10 or so years with the advent of gambling and some of the other businesses that have come even before the Haynesville money...

there has always been a small strata in Shreveport with money--
banking, cotton/ranching, some oil money, people who owned independent businesses---even if there were lot more just working stiffs...

most of those really nice homes were built by independent, custom builders--
we knew one--his name was Earl Britt and he build wonderful houses...
but the oil crash in the 80s strangled Shreveport--companies went out of business, people lost jobs right and left--lots of builders struggled and Earl pretty much went out of business and had to start doing commercial work building storage facilities I think ... he died a few years later from heart problems...
but I know that some people are still living in some of the houses he built--they are classic...

I would check out the real estate listings for Shreveport and Bossier and see what types of houses are listed--in what price ranges--you can tell a lot from looking at the photos
call a couple of real estate agents who seem to list the type of house you would be building--
ask them how the market is--how many people are building spec homes--
see if there is Shreveport builders assoc and try to get some info there...

because there is still lot of rural land in that area some builders will take jobs that might be in Greenville or the towns around Shreveport so you could wind up doing a lot of driving that might not be compensated for in your bid price..

just my 2 cents...
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Louisiana > Shreveport-Bossier City
Similar Threads

All times are GMT -6.

© 2005-2022, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top