Hurricane Storm Surge Poses $300 Billion in Home Losses

By Mike Colpitts Hurricane driven storm property damage in ten major urban areas along the Atlantic and U.S. Gulf coastlines would exceed $300-billion in home losses, according to an assessment by a real estate research firm. It’s the second annual assessment by Core Logic, developed to enhance understanding of the heightened risk storm surge damage poses to the U.S. The report comes on the heels of the Federal Emergency Management Agency … [Read more...]

Chinese Drywall Second Housing Crisis

By Kevin Chiu A second housing crisis is slowly working its way through 20 states as more victims fall ill from poisonous fumes emitting from their very residences. From the Gulf Coast of Louisiana, where workers are replacing toxic Chinese drywall in new homes built for victims of Hurricane Katrina across the country it’s being called “the silent hurricane.” Toxic emissions from the drywall spew into the indoor air streams and are … [Read more...]

2011 Louisiana Housing Market

Louisiana home sales are anemic in most of the state as a wave of turmoil troubles the state battling back from twin disasters. A turn around that started to develop has been stagnated, as unemployment grows and fears about a rebound in the economy derail the region. Home sales aren’t being hurt as much by foreclosures in Louisiana as many places because homes have already been left to rot, especially in hard hit New Orleans. But this state that … [Read more...]

Markets Forecast to Rise with Housing Inflation

In a turning point that demonstrates U.S. housing markets are making a recovery, Housing Predictor is forecasting that local markets in seventeen states will experience housing inflation in 2011. The states are dominated by the Mid-west and most Northern regions that were less affected by harmful new mortgage lending products during the real estate bubble, and are experiencing fewer foreclosures as a result of troublesome bank lending … [Read more...]

Gulf Oil Spill to Drop Homes Only 10%

By Mike Colpitts Gulf coast homes and condos on the immediate coastline in the path of the BP oil spill in Alabama and Florida will suffer only a 10% drop in average values as a result of the oil disaster, according to a new Housing Predictor forecast compiled after more than three months of research. The impact of the disaster has already taken a toll on Louisiana and Mississippi coastal properties, gaining momentum as real estate brokers … [Read more...]

2010 Louisiana Housing Market

Housing sales in Louisiana are being seriously impacted by the double-punch of the BP oil disaster and the expired federal tax credit. Before the oil hit the southern coastal region of the state progress was building in the wake of the devastating destruction left in the wake of Hurricane Katrina five years ago. However, now both accelerating fears of the massive oil slick and a decaying economy leaves the region perplexed, threatening its … [Read more...]