Hello all in the Youngsville or Lafayette area,
as I drive around my hometown I am noticing a lot of new neighborhoods and homes are being built. There is a lot of expansion going on it seems, however i know this area has had a lot of worker layoffs due to the oil field slowing way down. ( I work in the oil field currently and we just had more layoffs today.)
I know not everyone is in the same situation as I am, but thinking out out my question is.... Who will be building and buying these homes? With so many people losing their jobs...How will these people pay rent and mortgages? Is this a good time for investors to come in? How can I make the best of this situation when any day now I could be the one who is laid off?
Has anyone noticed a drop in being able to invest in this area? I know I don't post much but I am on the site pretty much every day reading and educating myself.
Thank you in advance for the input.
@Russell Bertrand - I know what you mean. I keep seeing high dollar neighborhoods popping up but everybody's scared to death about the work scene. The contractors and land developers must know something we don't.