Landlords Worst Nightmare

[Time to raise the rents.]

I've been thinking to myself the last few days that the events in New Orleans will have produced a landlords worst nightmare scenario for many.

The winners (of sorts) in N. O. are tenants who are mobile, can set up in another location etc etc.

Aid is available to all in the form of food & shelter including displaced landlords, but I believe that by the time the city is repaired & habitable again, many of N.O's tenants will have got back on their feet in other cities and will fear returning.

Landlords on the other hand have to return to their responsibilities and rebuild. Hopefully for many they have insurance. But that won't correct the shortage of tenants afterwards though.

So is N.O looking forward to a local property depression, or will those vacancies be filled by gorking tourists from around the world coming to take a look?

[Sledgehead]

I've been thinking to myself the last few days that the events in New Orleans will have produced a landlords worst nightmare scenario for many.

The winners (of sorts) in N. O. are tenants who are mobile, can set up in another location etc etc.

Aid is available to all in the form of food & shelter including displaced landlords, but I believe that by the time the city is repaired & habitable again, many of N.O's tenants will have got back on their feet in other cities and will fear returning.

Landlords on the other hand have to return to their responsibilities and rebuild. Hopefully for many they have insurance. But that won't correct the shortage of tenants afterwards though.

So is N.O looking forward to a local property depression, or will those vacancies be filled by gorking tourists from around the world coming to take a look?

<{POST_SNAPBACK}>

Then again NO has produced @least 1m people in need of accomodation and that is very good news for surrounding LLs. I suspect the rent rates will be fixed by Federal or State authorities, but none the less, it could bail out some BTLs in th earea facing voids.

On the disiater tourism front I'm not so sure. People generally want relaxation and luxury. Of NO they wanted culture and old world charm. As a tourist spot it' shard to see what attractions it might have in future. Doubtless they'll rebuild it in a Disney-esque replica fashion, something Bush will call better and Europeans will call "plastic."

Genuine question: would you consider buying there?

[deano]

I've been thinking to myself the last few days that the events in New Orleans will have produced a landlords worst nightmare scenario for many.

The winners (of sorts) in N. O. are tenants who are mobile, can set up in another location etc etc.

Aid is available to all in the form of food & shelter including displaced landlords, but I believe that by the time the city is repaired & habitable again, many of N.O's tenants will have got back on their feet in other cities and will fear returning.

Landlords on the other hand have to return to their responsibilities and rebuild. Hopefully for many they have insurance. But that won't correct the shortage of tenants afterwards though.

So is N.O looking forward to a local property depression, or will those vacancies be filled by gorking tourists from around the world coming to take a look?

<{POST_SNAPBACK}>

Perhaps thr insurance companie's will realise thier clients have lost thier policy documents and just not pay. Who are you expecting to rebiuld NO anyway.

The whole economy in NO has not disfunctioned its non existent. Sort out who owns what, who insured who, who owes who, who is in debt,who is in credit.

Thinking you can rebiuld NO by putting it back the way it was is rediculace, they need large scale efforts, not individuals acting as single entities rebiulding thier own little empire patchwork quilt fashion all over three states.

Do Landlords have to return to thier responsibilities, I don't think so, when youve lost everthing its start over.

[red]

I've been thinking to myself the last few days that the events in New Orleans will have produced a landlords worst nightmare scenario for many.

The winners (of sorts) in N. O. are tenants who are mobile, can set up in another location etc etc.

Aid is available to all in the form of food & shelter including displaced landlords, but I believe that by the time the city is repaired & habitable again, many of N.O's tenants will have got back on their feet in other cities and will fear returning.

Landlords on the other hand have to return to their responsibilities and rebuild. Hopefully for many they have insurance. But that won't correct the shortage of tenants afterwards though.

So is N.O looking forward to a local property depression, or will those vacancies be filled by gorking tourists from around the world coming to take a look?

<{POST_SNAPBACK}>

Thousands dead and you're thinking about Landlords. Priceless.

[Sledgehead]

  is rediculace,

<{POST_SNAPBACK}>

Deano, you raise some fair points. But there is the small matter of US pride. If you wanna know @ what cost look @ Iraq: 190billion and counting I believe.

What really puzzles me is how you can argue so forcefully yet spell so poorly! Are you a product of "education, education, education," or did the damage occur pre-1997 (no offence)?

[Time to raise the rents.]

Then again NO has produced @least 1m people in need of accomodation and that is very good news for surrounding LLs. I suspect the rent rates will be fixed by Federal or State authorities, but none the less, it could bail out some BTLs in th earea facing voids.

On the disiater tourism front I'm not so sure. People generally want relaxation and luxury. Of NO they wanted culture and old world charm. As a tourist spot it' shard to see what attractions it might have in future. Doubtless they'll rebuild it in a Disney-esque replica fashion, something Bush will call better and Europeans will call "plastic."

Genuine question: would you consider buying there?

<{POST_SNAPBACK}>

Good points. Winners & losers even amoungst the landlords.

But I can just imagine 6 - 12 months from now the news reports of people wandering N.O with their electronic headphone guides beaming on about what happened in the location they're standing in. Same as what is going on in NY now.

Would I buy there? The genuine answer is no. Not even when some places are being given away. Property is a long term investment for me & there is nothing like a bad location to destroy value. I'll bet people could make money over a 5 year time horizon though.

I wouldn't even buy in northern Battersea which is a flood plain that'd flood if the Thames barrier failed.

Check here to see if you live in a flood plain in the UK. Only problem being that you'd have to register to make more than 1 search. But the 1st search is quick & easy.

Edited September 5, 2005 by Time to raise the rents.

[Time to raise the rents.]

Thousands dead and you're thinking about Landlords. Priceless.

<{POST_SNAPBACK}>

No I have every sympathy and respect for the people who have suffered and wish I was local so I could set up my own soup kitchen & hand over my unused clothes & camping equipment, give away my old mobile phones and drive people around free of charge. I really mean that.

But life goes goes on and someone has to rebuild, which is what I started this thread to discuss.

If I lived in N.O & was a tenant, I'd be thankful that I got out & could walk away if I feared returning.

[Scarecrow]

No I have every sympathy and respect for the people who have suffered and wish I was local so I could set up my own soup kitchen & hand over my unused clothes & camping equipment, give away my old mobile phones and drive people around free of charge. I really mean that.

But life goes goes on and someone has to rebuild, which is what I started this thread to discuss.

If I lived in N.O & was a tenant, I'd be thankful that I got out & could walk away if I feared returning.

<{POST_SNAPBACK}>

Personally I find it strange that anyone's thoughts should turn to the impact on landlords when hundreds if not thousands of bodies are still to be found.

I take it you have donated to the Red Cross?

[look to the past]

<{POST_SNAPBACK}>

I thought that chicken flu would be landlord’s worst nightmare

A scenario of 5% of the population being killed would make property worthless almost over night.

People have / are relying on property to give them a pension, what are the chances of some disaster happening in the next 10 – 20 years in the UK

[deano]

Deano, you raise some fair points. But there is the small matter of US pride. If you wanna know @ what cost look @ Iraq: 190billion and counting I believe.

What really puzzles me is how you can argue so forcefully yet spell so poorly! Are you a product of "education, education, education," or did the damage occur pre-1997  (no offence)?

<{POST_SNAPBACK}>

Ledgehead

I sincerely beleeve you spell rediculace this way,so I willl continue to do so. Have a nice day.

deano!

[Sledgehead]

But I can just imagine 6 - 12 months from now the news reports of people wandering N.O with their electronic headphone guides beaming on about what happened in the location they're standing in. Same as what is going on in NY now.

I suspect you are right. They'll probably even be a few jobs for yobs with equity cards, toting guns and screeching around corners in pickups:

"And on the left you will see a gang of marauding looters...."

Would I buy there? The genuine answer is no. Not even when some places are being given away. Property is a long term investment for me & there is nothing like a bad location to destroy value. ....I wouldn't even buy in northern Battersea which is a flood plain that'd flood if the Thames barrier failed.

Check here to see if you live in a flood plain in the UK. Only problem being that you'd have to register to make more than 1 search. But the 1st search is quick & easy.

<{POST_SNAPBACK}>

The latter begas the question : what is a bad location. With climate so much in flux this has to be a genuine consideration. As we have seen natural disiaters give rise to anarchy even in the rich, developed west. Think of all th eplace you coul dhave bought recently, only to face being awarded the title "bad location". The list seem sto grow every day.

Phuket (Tsunami)

Vietnam (Bird Flu)

Mumbai (1metre rain in a day)

Portugal (fires)

Spain (severe drought, blamed on foreigners)

Germany (Flooding)

Bulgaria (flooding)

US Gulf Coast (Flooding & Hurricanes)

Even here the flood map just keeps growing. Even the central south has been affected recently.

The contrarian in me says weather systems are in such flux it's almost worth waiting to be hit before buying cos within the next 5 years you could easily be added to the "map".

[Sledgehead]

Thousands dead and you're thinking about Landlords. Priceless.

<{POST_SNAPBACK}>

C'mon red, TTRTR is actually a v nice chap and you'd know that if you'd seen some of his more socially oriented stuff. Give us a break.

Edited September 5, 2005 by Sledgehead

[Sledgehead]

Ledgehead

I sincerely beleeve you spell rediculace this way,so I willl continue to do so.  Have a nice day.

deano!

<{POST_SNAPBACK}>

[Time to raise the rents.]

Add Sydney & the entire east coast of Australia to your list Sledgehead. According to newpapers after the Tsunami, the east coast of Aus is well overdue a Tsunami generated from the earthquake zone on the west coast of New Zealand.

Someone can correct me if Im wrong, but I believe the tectonic plate that Australia sits on and borders New Zealand is the same plate that the earthquake zone that generated the Tsunami last year connected to.

[Time to raise the rents.]

Personally I find it strange that anyone's thoughts should turn to the impact on landlords when hundreds if not thousands of bodies are still to be found.

I take it you have donated to the Red Cross?

<{POST_SNAPBACK}>

Yes I have, have you?

Click here to donate to the Red Cross HPC'ers.

[Sledgehead]

Personally I find it strange that anyone's thoughts should turn to the impact on landlords when hundreds if not thousands of bodies are still to be found.

<{POST_SNAPBACK}>

Scarey,

What can I say, it's a tough world. But make no mistake, TTRTR didn't starve Louisiana of funds to shore up th elevees. TTRTR didn't dither over who should and who should not be laying on buses to get people out b4 the floods. TTRTR isn't walking the streets, 45 by his side, looking for "a fix to take the edge of his Jones."

He's just passing comments about market forces. If you think the market is irrationally priced and look forward to a fall, there's gonna be some family made homeless by your wishes, some marriage wrecked by your desire. Maybe they deserved it for being financially naive? Maybe you shouldn't live 6ft below sea level and rely on the State to keep you safe? I make no judgement. I merely point out the ethical dilemmas.

[libitina]

Phuket (Tsunami)

Vietnam (Bird Flu)

Mumbai (1metre rain in a day)

Portugal (fires)

Spain (severe drought, blamed on foreigners)

Germany (Flooding)

Bulgaria (flooding)

US Gulf Coast (Flooding & Hurricanes)

<{POST_SNAPBACK}>

I think I'll stay in bed!

[Sledgehead]

Click here to donate to the Red Cross HPC'ers.

<{POST_SNAPBACK}>

For a moment you had me thinking that the Red Cross were building a HPC fund (presumably for the victims of a HPC!) Jeepers, though I, it's worse than I thought!

[Scarecrow]

Yes I have, have you?

Click here to donate to the Red Cross HPC'ers.

<{POST_SNAPBACK}>

Yeah I have, through

http://www.redcross.org.uk/katrina

A landlord's "worst nightmare" would surely be to have lost his life, or the lives of his family and friends?

[Time to raise the rents.]

Yeah I have, through

http://www.redcross.org.uk/katrina

A landlord's "worst nightmare" would surely be to have lost his life, or the lives of his family and friends?

<{POST_SNAPBACK}>

That would be outside the prefessional scope of a landlord and reduce them simply to a person. It's like pedestrians and motorists, they're interchangeable even though everyone seems to classify them as 1 group or another.