While I and others have talked of Katrina leading to the market turning downward, there will be pockets that boom from this disaster. Remember that hundreds of thousands of people lost their homes. Keep in mind that hundreds of thousands of people evacuated to surrounding cities. These cities are already starting to see the “Katrina Effect”.
Just like Baton Rouge, the Shreveport-Bossier City real estate market is getting hot. Houses in the capital are selling for about 10 to 20 percent more than normal because of 200,000 hurricane evacuees. And there’s reason to believe those trends are headed to Shreveport.
“All indications show that the demand is exceeding supply significantly the closer to the catastrophe, and we are now receiving evidence it is here, too,” said Roland Hall, president of the Northwest Louisiana Association of Realtors. “Properties are selling quicker.”
We need to keep in mind that there are always two sides to every coin. While some people face misfortune, others will always benefit. Contractors and builders will have it good for years and years to come in the south.
Quote Source: The Shreveport Times