business
Jean-Paul Villere: Bring on the gumbo party
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I want to tell you a story, though it’s a tired one. It’s one of watermarks, floodlines, and rust. It’s one of great sadness, overwhelming emotions, and glorious reunitings. One that over the last 10 years most Americans are tired of hearing, and one that many New Orleanians have a version of. It’s Katrina. And Rita. And levees breaking. And the curious nine years that followed the moisture-rotted rollercoaster of events in latter 2005 in the Crescent City. And while my tale unfurls I will ask you to remember two words: gumbo party. Among other quizzical post-K recovery notions, recently the question has been placed (and by more than a few): is the New Orleans housing market in a bubble? And, of course, everyone has an answer. My answer is: no. But why does my opinion count? Maybe it doesn’t. But maybe it does. Maybe because I’ve lived these last nine years with my ear to the ground, following my passions in real estate. Or, more importantly, maybe because when my wife and I returned to New Orleans we doubled down, quite literally, and had two more daughters and began reinvesting ourselves in our return. If we are to be washed away again – and chances are good – we’ll at least be in more and good company. One may argue the film industry has been driving the real estate market, and some would say that’s right on. Long seated largely bi-coastally, the purveyors of film and television have steadfastly and albeit largely due to state tax credits found a new home in the Pelican State.