News Roundup
Jan 31 2009
New Orleans Home Prices Up in the City, Down in the Suburbs
The Times-Picayune
by Kate Moran
Saturday January 31, 2009, 7:42 PM
Resolute New Orleanians have stuck by their city in the face of poor schools, high crime and fearsome hurricanes, mortared here by the unique, soulful culture exemplified in its Carnival celebrations. That singular attachment to place appears to have buttressed the city’s housing market during a time of widespread weakness.
After holding aloft during the early months of the recession, home prices across the New Orleans area began a retreat in 2008 that will likely continue this year. The exception was the city itself, where single-family homes gained an average of 4.4 percent in value. All of the suburban parishes, meanwhile, registered modest, if not catastrophic, price declines. Read more.
Source: The Times-Picayune
Filed under: Community Economics | Housing
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