"Who's Going To Buy All These Knockoffs?"
Folks in Baton Rouge have been talking about the large number of homes being built in the area, and now, one fellow thinks he knows why. "Toss in the scores of smaller developments and the condo and townhome frenzy and the number could swell to more than 20,000 units over the next five years, depending on pace of filings and absorption."
"This is all happening at a time when people are fleeing Baton Rouge like Castro was mayor. Last year alone over 1,300 more people left here than moved here."
"So how do you explain it? Those in the business can't, though this notoriously optimistic bunch is quick to say there's no cause for alarm."
"I'm guessing the answer to our real estate riddle rests with area bankers desperate to boost revenues. And in today's climate, the fastest way to serious cash is commercial and residential loans, explaining why anyone with a set of blueprints pretty much gets approved."