Hi Guys
Oh you lucky ones who have already invested in Texas or Louisiana.
Katrina creates overnight boomtownsReal estate agents scramble to house displaced families and businesses. Smaller Louisiana cities now have the tightest markets in the country.
By Melinda Fulmer
Hurricane Katrina’s destruction of Louisiana’s largest city is boosting the fortunes of those that surround it, creating boomtowns almost overnight.
Flooded with 225,000 hurricane evacuees, Baton Rouge, located 75 miles northwest of New Orleans, has almost doubled its population.
The influx has sparked shortages of housing and commercial space and strained the city’s infrastructure, including schools and roads. Homes in Baton Rouge that once lingered on the market are now being snapped up at previously unheard-of prices.Start investing with $100.
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new ETF center.“I heard of one $90,000 house being bid up to $180,000,” said commercial insurance broker Griffin Sole, who looked in the area for housing before moving on to Alexandria, a few hours west.
Some agents have a mandate from their corporate clients to buy up housing in Baton Rouge sight unseen, said David McKey of Coldwell Banker Phelps & McKey in Baton Rouge.
The rest of the article can be read here:
http://moneycentral.msn.com/content/invest/extra/P128879.aspRegards
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Hi muppett
its a terrible situation for the coastal areas affected.
Just to add what you are saying i know the growth areas we are buying in (for myself and clients) is already seeing the effect of this tragedy.
this is what i said in a recent email our clientsHurricane Katrinathe damage to the southern coast line has been extreme as I’m sure you have seen on the TV, the enormity of the disaster is unprecedented and no one can fully tell what the long term consequence will be. The immediate impact is already felt in many US cities especially those in Texas. I was talking to one of our contacts who has moved out of her home to allow relatives from New Orleans to move in. (Her home is a large 6 bedroom home), she has now moved to another smaller property she owns. She has been developing “supported care homes” for elderly people, an investment opportunity we were about to make available to you. She has now postponed all plans and has made these properties available for relatives affected by the Hurricane also.
A few of our clients have asked me if the areas we are buying in are in areas effected by Hurricanes, fortunately they are not. With the tens of thousands of Louisiana refugees moving into Texas, rental demand is already increasing. It is unknown how many will return home, at the moment many are saying they will never return but make their new home in Texas.
Regards Westan
westan
http://www.nzpropertytogo.com
check it out !
Properties in the USA 15-25% returns- email to join our database [email protected]what a sad way to have an increased rental yield!!!
We buy properties in Adelaide. Immediate Cash Settlements, No Real Estate Agents, No Fees.
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phone 0412 437 582Yes Dr X
it would be a pity if people exploited the situation by increasing the rent.
On the other hand people are rising above this situation, such as my contact in Texas who is putting others ahead of profit, by posponing business plans so she can support those affected.
regards westan
http://www.nzpropertytogo.com
check it out !
Properties in the USA 15-25% returns- email to join our database [email protected]I just say thank god for investors who have properties that they are able to rent out to help these poor people re establish their lives and give them a roof over their heads.[biggrin]
Jenny1
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