Market Watch: Lafayette Parish real estate still rocking
Despite a prevailing concern about the oil and gas industry and its impact on the local economy, real estate in Lafayette Parish is still on a roll. New construction sold is up 5.3 percent from early 2014 to early 2015.
Oil is taking its toll, but the local economy will not crash and burn this time around. Living in South Louisiana, we are not strangers to ups and downs in the oil and gas industry. It comes with the territory. There is no doubt the local economy has shifted this year; however, because of diversification, the economy has been slower to slump. I’ve spoken about the importance of economic diversity for a long time, and it’s satisfying to see decades of progress making a difference now — when it’s needed most.