New Orleans Real Estate and news

New Orleans selling real estate I will buy. Selling Bonds to fund growth of the cities properties? K.

But humurously -in a way- the school district is taking a long shot and hoping to sell its flooded, unsalvageable school buses on eBay.

Some submerged to “There’s no shame in it. Not one bit,” said school board president Phyllis Landrieu. “This is a new mechanism for selling things. I think it’s very upbeat what we’re doing.”

 

 

Eeconomic growth could slow because of housing deficiencies in  hurricane-ravaged New Orleans metropolitan area. a new Study by an economics professor at Louisiana State University says it will take about 50,000 housing renovations per year over the next three years to counter the projected shortage.

The study, supported by a research fund of the Financial Services Roundtable, reports that 71 percent of the damaged housing stock in the area must be renovated over the next three years to accommodate projected job growth, in addition to the new building  of an estimated 13,500 new homes each year. The financial services roundtable is a forum for U.S. financial services companies, and its members include major mortgage, banking and insurance companies.

“Everybody’s kind of at a loss. We’re not even sure how many people are in the different parishes,” Fromherz said. “It’s just real difficult to gauge what’s going on in the economy.”

The annual Real Estate Market Analysis has been delayed by Katrina and might not be available until mid-May, said UNO professor Ivan Miestchovich, who is struggling to assemble the information while dealing with challenges created by Katrina.

“We’re putting on a full-court press to put people in the field, making onsite visits to apartment complexes, retail facilities and office facilities,” he said. “That’s the best we can do right now.”