Is It A Good Time To Buy A House In Houma, LA?
The state of the economy, the non-governing government, and world unrest have many waiting on the sidelines wondering when is going to be the right time to buy a house in Houma, LA. The events and news of the day have people hesitant about what to do next.
The news seems crammed with only the bad news. But in reality, this is not the case. For instance, in a recent article appearing in the South Louisiana Economic Council’s online newsletter, Louisiana’s Bayou Region, Fuel Fix reported a recent study commissioned by API and NOIA, prepared by Quest Offshore, indicates 190,000 jobs could be created over the next 2 years if the pace of offshore drilling in the Gulf picks up and returns to pre-spill levels. Also in the same newsletter Baker and Hughes is projecting a better second half in 2011 for the Gulf of Mexico.
So how do these economic forecasts affect the price of houses in the Houma, LA area?
We know that there is increasing pressure on the Obama administration for offshore production. There will be no recovery without energy. We even see a 10% increase in the number of people, nationwide, wanting an increase in Gulf of Mexico production to help ease the rising cost of energy.
One thing is for certain, as the oilfield begins to heat up, so will the price of houses in the Houma, LA area. Demand always drives up the price.
The price of houses has seen a dip since 2009. Now they are stabilizing. But as soon as demand begins to increase, so to will the cost of buying a Houma, LA home.
But that’s not all. With the unstable stock market and the price of gold rising, investors will also be looking for other investment opportunities. They too may begin to enter the housing market looking for ways to improve their investment return.
Our advice? If your employment has been stable and your credit is in order, you probably won’t see prices this low for long. The time to take advantage of market conditions is now.
If you’re not sure, but want to know more, give us a call. We’ll help you to get things in order so you have a clear picture of your next step.