Monday, September 26, 2005

WSJ: Stick It Out In NOLA

Journal Columnist June Fletcher writes of New Orleans residential property: "Housing shortages mean that demand and prices will rise rapidly for the homes that survived. But it also means that finding help to fix (any) damage... will be an arduous process. If you want to sell now and don't want to spend months dealing with insurance adjusters (or contractors) you may have to sell to an investor at a deep discount." But she adds that "On the outskirts of the city, shortages are already pushing the price up for homes that didn't suffer any flooding." One problem: "closings are being put on hold because title searches can't take place until the courthouse and flooded title insurance companies are back in business."

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