[Rhodes22-list] Katrina Update

[Brad Haslett]

Bill,

We're in the market for a permanent home but things are a bit pricey.
There's a lot of speculation going on and the land prices north of I-10 have
gone through the roof with outside investors from California and Florida
buying everything up for subdivisions.  There is a new subdivision starting
in April with 2500 homes planned for the first phase.  The prices are going
to start around $125K which is about right for the market.  Were clearing
some land for a customer right now that has run into a common issue.  The
Army CORP designates wetland areas based on elevation.  There is no survey
of rare animals or vegatation, just elevation.  Our little company has the
ability to dig ponds, raise elevations, and create beautifully landscaped
sites for multi-family dwellings but the permitting process takes over a
year.  The CORP is turning the process over to the MS state and the time
schedule is supposed to drop to less than a month.  The enviro police are
fighting it - every mosquito breeding puddle is an unblemished wilderness.
Other than looking for a place to park equipment instead of renting, I'm
staying out of coastal real estate until the beachfront condos start going
up.  That is another hotbed issue with the locals - lots of NIMBYism.  Even
Habitat for Humanity has had their problems.  Folks in high income
neighborhoods don't want low income housing near them.  Then there is the
issue of a substantial number of folks who are happy with their FEMA
trailer, no rent, no utilities, no maintenance, no problems other than the
crime.  I'm guessing but I bet I'm not off by saying about 20% won't move
until they're forced out.  The progress has been slow but steady.  My
brother and I made a commitment to stay when we first landed on the beach
and we've stuck to it, a lot of others have gotten frustrated and picked up
their ball and bat and glove and gone home.  We're having too much fun and
have made too many friends.  The flight home today was beautiful and another
reminder of why this is a good thing and worth all the frustration.

Wally,

Shelby County real estate has always been tricky.  That's why I consider my
house a dwelling and not an investment.  We own more real estate in China
than we do here.  I've thought the stock market to be a bit too exuberant
for some time.  Stupid me!  I invest in conservative funds and then forget
about them.  They'll do fine in the long run.  But then again, in the long
run we'll all be dead.

Brad

On 2/4/07, Bill Effros <bill at effros.com> wrote:
>
> Brad,
>
> Yes, of course I'm loading up on real estate at the current prices.
>
> When the stock market bubble bursts some stock has zero value.  When the
> real estate market bubble bursts some real estate goes down several
> percentage points in value for a relatively short period of time.
>
> I'm not a speculator.  I never sell.
>
> I'm sure there are many great real estate deals available in
> Mississippi.  You should be able to spot them.  You will run out of
> money long before you run out of clearly profitable real estate
> opportunities.  Fix them up on your own nickel, or on the government's
> -- I don't care, although I personally tend to stay away from all
> subsidized deals and have only myself to blame for successes or failures.
>
> Bill Effros
>
> Brad Haslett wrote:
> > Dave,
> >
> > Caught me walking out the door.  Don't underestimate the value and
> > contributions of the volunteers.  Maybe the Ladies Aid Society can't
> > re-roof
> > houses but the Mennonites sure did!  Professional construction workers?
> > Hello, we're here!  As Ed said, the infrastructure wasn't built in a
> day,
> > and it wouldn't do any good to repeat the same failures that Camille
> > wrought.  We came here to make a buck and no one is more impatient
> > with the
> > progress than us.  But we're also in this for the long haul and we're
> > realists.  Things are starting to happen.  MS just passed "smart
> > codes" so
> > maybe we won't have to repeat this process next hurricane season.
> > Patience
> > is a virtue!
> >
> > The bumper sticker reads "Together We Rebuild".  It is a rehash from
> > Camille.  I'll send you one.
> >
> > Bill, no one is more surprised about the economy than me.  I didn't
> > speculate in real estate (at least not in this country) and invested
> > conservatively the last five years.  Unfortunately, I left a lot of
> > money on
> > the table.  You can't legislate away the business cycle and I doubt
> > this one
> > has that much horsepower left, but I could be wrong.  You're the real
> > estate
> > guru.  Are you loading up on property at current prices?
> >
> > Brad
> >
> >
> > On 2/4/07, DCLewis1 at aol.com <DCLewis1 at aol.com> wrote:
> >>
> >>
> >> Brad,
> >>
> >> So disabuse my sense of unreality regarding the gulf coast.  I
> say  they
> >> need
> >> help.  I say building bridges, roads, and infrastructure takes  heavy
> >> equipment, heavy equipment  operators, welders, I beams, thousands
> >> of  yards of
> >> concrete.  I say the need is for competent professional  construction
> >> workers and
> >> supplies.  You say "send me some  volunteers".  Whose serious?
> >> Volunteers
> >> from the Ladies Aid Society  from our local Baptist church are going to
> >> weld the
> >> I beams, move the earth, lay  the concrete?  I don't think so.  Who
> >> perceives
> >> a problem that  requires manpower and resources.  I think it's me.
> >>
> >> Or maybe what you are not quite plainly stating is that there really
> >> is no
> >> problem in the gulf region.  That the remaining damage is modest
> >> and  something
> >> a few volunteers can handle?
> >>
> >> There are very definite limits as to what well meaning volunteers can
> >> do,
> >> unless they happen to have specific expertise.  My experience is
> >> the  greatest
> >> good thing to come from volunteering is that the volunteers feel
> >> good  about
> >> themselves.  You want to rebuild?  Get competent professional  people
> >> and
> >> equipment(i.e. spend $),  they will do the job better, faster,  and to
> >> code.  There'
> >> s a time and place for volunteering but my  understanding is that to a
> >> large
> >> extent the gulf rebuild is not that time  or place - I understand that
> >> conflicts with your ideology.
> >>
> >> As to bellyaching about getting people to work on the rebuild, I
> >> think  the
> >> unemployment rate in Michigan and Ohio is 6 to 8%.  Try  recruiting.
> >>
> >> I promise you, one qualified heavy equipment operator will move more
> >> earth
> >> or trash in a day than you and I as volunteers will move in a
> >> month.   If
> >> your
> >> serious about the gulf coast rebuild, you'll get off this
> >> volunteer  shtick.
> >>
> >> Which brings us to how to pay for all the professional help, equipment,
> >> and
> >> supplies that are needed.  The money has been authorized and approved,
> >> it's
> >> sitting in some account as a line item, the debit has already been
> >> marked
> >> against the budget, all that remains for some bureaucrat to say
> >> professional
> >> companies can incur costs.  Why hasn't that bureaucrat given the
> >> go  ahead?  And
> >> it all comes back to Jr.
> >>
> >> It's not fair to zing Jr for every little thing that doesn't get done
> by
> >> federal agencies, but this shortfall is truly big, we're talking 2
> >> states
> >> of the
> >> union.  You've seen the bumper sticker "United We Stand", we'll there
> >> ought
> >> to be one that says "United We Rebuild", rebuilding should reasonably
> >> be a
> >> national priority.  The rebuild should be a major focus for this, or
> >> any,
> >> Administration.  Jr and/or his designated rep should be completely on
> >> top  of and
> >> leading the rebuild effort - but of course we know that's not
> the  case.
> >>
> >> Bottom line: Stop asking for volunteers, the problem is much larger
> >> than a
> >> gaggle of volunteers with no specific expertise can handle, hire
> >> professional
> >> help and get on with it.
> >>
> >> Dave
> >>
> >> __________________________________________________
> >> Use Rhodes22-list at rhodes22.org, Help? www.rhodes22.org/list
> >>
> > __________________________________________________
> > Use Rhodes22-list at rhodes22.org, Help? www.rhodes22.org/list
> >
> __________________________________________________
> Use Rhodes22-list at rhodes22.org, Help? www.rhodes22.org/list
>