"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."
Wednesday's Blogs from the Bog!
Michael Sam focuses on making the team; Christians flee Mosul; Kerry at work in Middle East and more national and international news for Wednesdays, July 23, 2014.
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."
State police have arrested a 42-year-old Kaplan man in the July 7 hit and run fatality crash that killed a bicyclist on Louisiana Highway 92 near Milton.
Republican U.S. Rep. Bill Cassidy has picked up support for his U.S. Senate campaign from a former GOP competitor.
Lisa Hargis Smith lived a mysterious life as seen with her death earlier this month and its impact on the community of those who knew her, whether as a star student in Lafayette High’s class of ‘69, or later as a woman struggling with homelessness and mental illness.
Attorney Valerie Gotch Garrett will announce on Tuesday that she plans to run for the Division E seat of the 15th Judicial District Court.
Back in 2012, three Baton Rouge attorneys came to the aid of several disgruntled police officers with a high-profile lawsuit against the Lafayette Police chief and a number of higher-ups in city-parish government, but in a federal courtroom Thursday, their claims of conspiracy coupled with a lack of evidence backfired and the case was dismissed.
Gov. Bobby Jindal's administration intends to rework how it pays the private managed care networks that provide health services to two-thirds of Louisiana's Medicaid patients.
Gov. Bobby Jindal's administration is raising health insurance rates and cutting benefits for state employees and retirees, to keep their insurance program solvent.
Local, state and federal law enforcement officials spent much of Thursday reviewing their reaction to this week’s bomb threat, which led to the closure and evacuation of UL Lafayette and Girard Park, and a massive search Wednesday for two alleged explosive devices.
"We're not in a better place from the policy perspective than we were two weeks ago," says Education Superintendent John White, commenting on Thursday's face-to-face meeting with Gov. Bobby Jindal to discuss their dispute over Common Core.
Gov. Bobby Jindal appears to remain unmoved by offers of a compromise on procuring testing materials tied to the Common Core based on a terse statement his office released following a meeting Thursday with Superintendent John White.
Wednesday's Senate vote on contraception legislation is the latest example of Democrats' win-by-losing strategy, which forces Republicans to vote on sensitive matters that might rile women this fall.
A benefit will be held tonight at Romacelli Bistro in Youngsville to raise money for the family of fallen cyclist Lon Lomas.
After weeks of public disagreement, Gov. Bobby Jindal and Education Superintendent John White are sitting down to talk about standardized testing for the upcoming school year.
Two members of the Lafayette Parish law enforcement community who also serve on the Lafayette Parish Communications District will not be allowed to apply for the paid position of director of the agency.
After determining that the two reported bomb-like devices at Girard Park and UL Lafayette this morning were non-explosive, authorities have lifted the barricades, and an investigation into who was responsible is now under way.