"We're talking about numbers that nobody had planned for in their wildest dreams," says Bill BacquÃ©, chief executive officer of Van Eaton & Romero. "Our switchboard has just been inundated with people calling to the point where we can't handle it." Van Eaton & Romero doesn't handle rental properties but tries to match callers up with other local property managers.
Last week, BacquÃ© was working with other members of both the Lafayette and Louisiana Board of Realtors to set up a Web site, www.hurricanehomes.net, which they hoped to have up this week, to connect tenants with landlords.
A national site, www.hurricanehomes.org, has also been set up to match refugees with people willing to open up their homes free of charge. As of last week, the site listed more than 58,000 available beds.
Chuck Hebert, manager of Presteaux Management and Old South Realty, which handles more than 1,500 rental properties throughout Acadiana, says he has 40 available rentals on average, but that by midday Thursday, everything was occupied. Dozens are already on a waiting list.
"We're tying to accommodate as much as we can," Hebert says, "but it's just heartbreaking story after heartbreaking story. We just have no place to put them. It's just completely saturated." Many displaced families and businesses were moving beyond renting and beginning to buy properties around town ' a move that could spark a surge in property values.
"As the supply starts to diminish and the demand starts to go up, that's economics 101 that the price will go up," he says.
BacquÃ© wonders how the local market would handle such demand. As of Sept. 2, BacquÃ© says 787 homes were listed on the market in Lafayette Parish with a median price of $194,500. He also estimates another 330 homes could be for sale by owners, for a total of 1,100 homes for sale.
Hebert has already heard of instances where rental prices have gone up and wouldn't be surprised to see that carry into the buyers' market.
At least two businesses headquartered in New Orleans have announced they are moving to Lafayette offices for now. Law firm Liskow & Lewis is also relocating the bulk of its New Orleans staff to Lafayette. The firm signed a one-year lease last week to occupy a floor and a half in the FNB Towers on Jefferson Street. Superior Energy Services is also relocating employees to its Broussard office.
The big question is what will be done to accommodate the growing number of displaced indigents. Most of the residents who lost homes in the hurricane are living paycheck to paycheck.
"Many of these people don't have jobs to go back to," BacquÃ© says. "I don't think we've got any economic model that we can pull off the shelf and look at and say, 'This is what we're going to have to do to solve this problem.' It is unprecedented."
We will be offering our recommendations on the constitutional amendments tomorrow.
The justices did not comment in leaving in place lower court rulings that dismissed the lawsuits against BP and other companies involved in the worst U.S. offshore oil spill.
White registration is down by 7,700 voters while black registration has shot up by 7,100 voters.
Even though it had been rumored for months, U.S. Sen. Mary Landrieu finally pulled the trigger recently on a major campaign shakeup that moved control over to a few Big Easy insiders.
Louisiana's health department says it will seek law changes to stop billing sexual assault victims for exams and tests.
It wasn’t the historic slashes to higher ed funding or the ensuing tuition spikes that recently had LSU’s student body and faculty riled up in collective outrage.
Urgent Care clinics unprepared for Ebola; Nazis collected Social Security; Hawaii dodges a bullet and more national and international news for Monday, October 20, 2014.
Monday's Blogs from the Bog!
Will $400 be enough for the re-election campaign of LPSB's Hunter Beasley to overcome two years of holding our school system hostage and hurting the education of our children all because of a personal dislike of the superintendent?
Saints tight end Jimmy Graham said Friday he expects his playing status in Detroit to be decided by coach Sean Payton on Sunday, shortly before the game.
Lawmakers have sidestepped a decision on whether they accept claims from Gov. Bobby Jindal's administration that the state closed last year's books with a nearly $179 million surplus.
Coming off the high of a fourth quarter comeback against Tampa Bay and a helpful bye week, linebacker Junior Galette sees a real turnaround coming for New Orleans' struggling defense.
Former President Bill Clinton, the Democratic Party's most popular surrogate this fall, is heading to Louisiana early next week for a campaign rally with U.S. Sen. Mary Landrieu.
Time and again you hear people say DA Mike Harson is unbeatable because he's doled out political favors over the past 20 years. But a new lawsuit could end that speculation.
After the season's signature win (so far), here are some helpful tips for Cajun Nation during the conference stretch.
Did the state close last year's books with a surplus or a deficit?
Practicing without limitations on Wednesday, running back Mark Ingram looked ready to return to a New Orleans offense that once again ranks among the NFL's best when the Saints play at Detroit on Sunday.
It’s been decided: Superintendents of Louisiana’s public school system will retain the controversial powers granted by Act 1 of the 2012 session.
Louisiana Treasurer John Kennedy has a bone to pick with the Jindal administration, which recently — surprise! — announced that the state ended the most recent budget year with a $178.5 million dollar surplus.
The messaging battle, however, isn't tied to individual campaign accounts. Third-party groups have poured millions of dollars into advertising.
With her political future in jeopardy, Sen. Mary Landrieu is turning to a natural constituent base in her re-election bid.
Terrance Broadway threw for a touchdown and rushed for 113 yards to lead Louisiana-Lafayette to a 34-10 victory over Texas State on Tuesday night.
Aligned with the party of an unpopular president, U.S. Sen. Mary Landrieu sought to keep her distance from the Obama administration, against claims from her chief Republican challenger Bill Cassidy that a vote to re-elect the Democratic incumbent was a vote for Barack Obama.
Seven people in Louisiana and two others in Mississippi have been arrested in connection with an international online sales scam.
Despite the hype and potential misinformation to have spread in the wake of Mark Cockerham’s recent departure from the LPSB, his candidacy for reelection is still on — now with the backing of the Chamber's Empower PAC.