Big Easy dying a slow death?

BooBirdSaint · 07-25-2007, 07:30 AM

Just came across this article in USA today. Very telling as to the recovery in New Orleans and the Mississippi Gulf Coast.

http://www.usatoday.com/money/econom...l-estate_N.htm

"There are more homes on the market now than when there was an oil bust,"

"Doctors, bankers and other professionals are "the backbone of the community," says William H. Frey, a demographer at the Brookings Institution, a Washington think tank. "They're the people who will help the tax base. If they leave, they are going to be very hard to replace."

"Nearly two years later, even as New Orleans' population inches up — the number of residents is now about 60% of the pre-Katrina level — the loss of white-collar workers is striking. From July 2005 to March 2007, New Orleans lost almost 900 doctors, the Louisiana State Board of Medical Examiners reports."

"Professionals are moving away, and we're not adding the same jobs back," says Ivan Miestchovich, director of the University of New Orleans' Center for Economic Development and Real Estate Market Data Center. "The education, construction sectors — they're coming, but those folks generally don't qualify for homes $500,000 and above."

07-25-2007, 07:30 AM	#1
BooBirdSaint 100th Post Join Date: Apr 2005 Location: Houston Posts: 273	Big Easy dying a slow death? Just came across this article in USA today. Very telling as to the recovery in New Orleans and the Mississippi Gulf Coast. http://www.usatoday.com/money/econom...l-estate_N.htm "There are more homes on the market now than when there was an oil bust," "Doctors, bankers and other professionals are "the backbone of the community," says William H. Frey, a demographer at the Brookings Institution, a Washington think tank. "They're the people who will help the tax base. If they leave, they are going to be very hard to replace." "Nearly two years later, even as New Orleans' population inches up — the number of residents is now about 60% of the pre-Katrina level — the loss of white-collar workers is striking. From July 2005 to March 2007, New Orleans lost almost 900 doctors, the Louisiana State Board of Medical Examiners reports." "Professionals are moving away, and we're not adding the same jobs back," says Ivan Miestchovich, director of the University of New Orleans' Center for Economic Development and Real Estate Market Data Center. "The education, construction sectors — they're coming, but those folks generally don't qualify for homes $500,000 and above."