Baton Rouge, LA is experiencing an explosive real estate boom as the the city of 400,000 takes in an estimated 100,000 from the parishes of southern Louisiana. 250 homes are sold in one day.
"Before Katrina, 'a fast sale here was a home that sold in a week in a hot neighborhood,' says Judy Burkett, owner of Judy Burkett Realtors in Baton Rouge. 'Today, homes last for minutes. You put them into the [Multiple Listing Service] system, and they're gone almost immediately.'
'...We're now part of an experiment,' says Jim Richardson, an economics professor at Louisiana State University in Baton Rouge. 'An infrastructure that was meant to handle, maybe, 400,000 people, is now being asked to handle 500,000 or more. There are lots of pressures that are just now beginning to be felt.' "
FULL STORY: Baton Rouge Real Estate Becomes Hot Property
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