Each month the Brookings Institute releases theKatrina Index. Their conclusion is New Orleans is stagnating…
As these political and policy changes indicate hopes of problem solving and progress on recovery, key housing and economic indicators for the city of New Orleans and the region remain stagnant at best.
More specifically from the Katrina Index:
–The pace of new home renovations has slowed in the past month in the city of New Orleans, while demolitions continue unabated.
–The housing market in the New Orleans region has cooled: the number of homes put up for sale has remained essentially unchanged while the number of homes sold has dropped in the past month.
–Overall, the level of new businesses and public services remain stagnant. […] In short, despite a few signs of progress, the level of new public and private service activity remains the same.
–The overall employment picture for the New Orleans region and the state of Louisiana has remained the same over the past month, while the general employment trends in Orleans Parish have slightly worsened.—–