Victory Is Mine

Raise your hand if you think New Orleans real estate is a good deal now?

Yeah, think again. (You'll have to register at the L.A. Times website to read this - but if you're not registered for the big papers around the country anyway, you owe it to yourself to be. Free and takes all of two seconds.)

Messages from those wanting to buy houses — whether intact or flooded — and commercial properties are outrunning those who want to sell by a factor of 20, said Sterbcow, who has set up temporary quarters in his firm's Baton Rouge office.

So my question is, how the hell do these people know what they're buying? You have NO idea at this point if New Orleans is going to be rebuilt mostly as it used to be. Galveston pre-hurricane 100 years ago was bigger than Houston. Since, Galveston's population has increased by maybe 1/3rd, while Houston's has grown hundreds of times over.

posted by Publius @ 7:00 AM