Tuesday, October 13, 2015

"Buy some dirt"

Ray Nagin once said,
He said that billions of dollars will be invested into the rebuilding effort and urged the audience to "buy some dirt in New Orleans."

"New Orleans is getting ready to be the biggest job site in the world," he said.
He didn't really have any advice about how long we were supposed to hang on to these investments, though. It's kind of a tricky proposition though.  All you have to do is look around and see how expensive real estate is in New Orleans right now.

But when do you think the market might start reacting to these expectations
Virtually all of New Orleans will be under water after 2100, regardless of actions this century to curtail global carbon emissions, according to Climate Central researchers.

The nonpartisan climate science research organization has published an interactive map that zeroes in on any location in the United States, with one panel showing effects of "unchecked pollution" and another showing the results of "extreme carbon cuts." In the latter scenario, a narrow strip of land along the Mississippi River will survive. New Orleans is completely inundated in the "unchecked" scenario.
If you bought some dirt when Nagin told you to, you're probably riding high right now.  Pretty soon you might think about selling that dirt and cashing out before the investment, literally, goes underwater, though.

No comments: