Friday, December 08, 2006

Temporary New Orleans - Part 2

IF you read the previous post, you understand that I am moving my whole family with 3 elementary school-aged children to NOLA. Mandeville, LA to be exact. We are tired of moving around & are considering this to be our permanent place of residence. We are excited to be "Post-Katrina Pioneers." Here is where the temporary stuff comes in :

  • many people working there are being put up by businesses at accommodations with very high rates

  • those people are there to make some money & head back HOME -out of LA!!!
  • INSURANCE - car insurance, home-owners insurance, flood insurance
  • Renters insurance will cost me about $1,000 a year, homeowners will cost about $12,000 a year for a $400K house
  • class="commenthidden">Rent prices will be sky-high so the owner can cover their increased insurance premiums
  • The state run insurance pool is not a sure bet. I am quoted about $4,000 a year instead of $12,000 for the same purchase. That quote is good for ONE YEAR!!!! How much will it go up? Will it be pulled from under us?
  • Will a bank want to loan money to people buying a house in a flood zone?
  • Will toxic mold become an issue?
  • Who will insure owners of previous houses that were flooded, gutted & re-done?
  • Will commercial insurance pull out?
  • If commercial insurance pulls out - what business would be able to survive?
  • How can a middle class family with a decent salary afford to risk the instability of the insurance game in a new frontier for their family?
  • Why would anyone in their right mind consider gambling their finances & safety to go to an area with an uncertain future?
  • Will a mass exodus from NOLA happen soon (quicker if there is another big hurricane)?
  • Will people think of NOLA as a place to visit or earn money in a temp job and then head the heck out?


Anonymous said...

Are you one of those people living off my tax payments? That money was supposed to be for killing people around the world.

Don Singleton said...

That entry was posted by a guest blogger who is married to a former Army officer who retired and is working with the Corp of Engineers to rebuild the levee system. My personal opinion is that they should not rebuild anything in or to protect land that is 7 to 15 feet below sea level, but I think very highly of Greta and her family