"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."
Louisiana has joined nine other states in support of Indiana’s appeal of a federal judge’s ruling that the Hoosier State’s ban on sam-sex marriage violates the Constitution.
The Saints are being cautious in an effort to minimize risk of re-injury.
LSU Health Sciences Center says people with a common, hard-to-treat kind of lung cancer can join a new national trial to test drugs faster.
As New Orleans Saints coach Sean Payton and general manager Mickey Loomis spoke about the opening of training camp, steep, tree-covered mountains were in full view behind them.
The family of fallen cyclist Lon Lomas is speaking out after the release this week of the man charged with his death.
"The solutions are obvious: undo consolidation, or amend the charter to make this hybrid attempt at a new form of government work better."
Friday's Blogs from the Bog!
Marijuana source of disputes for HOAs; experts say still safe to fly; Russian-supported attacks on Ukraine and more national and international news for Friday, July 25, 2014.
The Board of Elementary and Secondary Education is considering whether to get involved in a lawsuit against Gov. Bobby Jindal for his attempts to undermine use of the Common Core education standards in Louisiana's public schools.
The latest meeting of a south Louisiana flood board that stirred political turmoil with a lawsuit against the oil and gas industry is taking place amid uncertainty over the future of the lawsuit — and the board's own membership.
The photos taken nearly a mile under the Gulf of Mexico are so clear that small holes are visible in a lifeboat that may have gone down or been scuttled when a passenger ship was sunk by a Nazi submarine in 1942.
Advocate columnist and Jindal shill Quin Hillyer has been against the New Orleans levee board lawsuit from day one, but a recent piece targeting author/activist John Barry prompted the perfect rebuttal from the board’s former vice-president, who takes Hillyer to task on just about every distorted claim he’s made on the issue.
Thousands of people who bought health insurance through the marketplace created by the federal health care overhaul face price hikes next year that could top 10 percent.
Louisiana fell one spot in an annual national ranking of child well-being that looks at poverty, education and health access.
A federal judge has decided he doesn't need to hear more arguments in the case of a gay couple who want a Louisiana marriage license.
Saints again bring playoff aspirations into 2014 campaign.
New details in the case against the man arrested for last week’s bomb threat and bank robbery has surfaced, including a MidSouth Bank surveillance video showing the alleged suspect attempt an early-morning bank robbery.
Parents and teachers who support the Common Core education standards sued Gov. Bobby Jindal Tuesday over his actions against the multi-state standards, accusing him of illegally meddling in education policy.
An arrest was announced this morning in connection with last week’s bomb scare at UL Lafayette.
Attorneys, judges and others interviewed by LaPolitics expect 15 to 20 district judge races this year.
"I feel like I'm under siege," an attorney said recently over drinks at Galatoire's Bistro in Baton Rouge. "We all do. Every time I turn around somebody wants a check. District attorney races. The judges. They're killing us."
As a requirement for running for Congress in the 6th District, former Gov. Edwin Edwards has filed his financial disclosure statement with the U.S. House showing his income in 2013 totaling $242,787.
Unlike those swindled by Bernie Madoff, the victims of Texas businessman Robert Allen Stanford’s Ponzi scheme won’t be getting any relief from the Securities Investor Protection Corp.’s emergency fund after a recent appellate court ruling.
The legal challenge is part of a continuing struggle over Common Core, which has become controversial since the Board of Elementary and Secondary Education adopted the standards in 2010.
The lone Democrat to announce he's running for governor, state Rep. John Bel Edwards, criticized Republican Gov. Bobby Jindal's budgeting tactics as "running the state like a big Ponzi scheme."