Shreveport, Louisiana: A City to Avoid for Real Estate InvestmentShreveport, Louisiana: A City to Avoid for Real Estate Investment Experts advise investors to steer clear of investing in certain U.S. cities, including Shreveport, Louisiana. The Bayou State’s largest city in the north has faced economic challenges tied to the volatile oil and gas industry. According to a report by Gobankingrates.com, Shreveport’s economic growth has been sluggish, resulting in high unemployment and flat property values. The local real estate market struggles with high vacancy rates and a lack of infrastructure development. “The city’s unemployment rate is still higher than the national average,” said real estate agent Ben Johnson. “Property values are flat and the local market is struggling with high vacancy rates and an almost total absence of major infrastructure development.” Despite these challenges, Shreveport is looking to revitalize its economy. A massive bond package will invest $250 million in infrastructure improvements. The city is also home to a new Amazon Fulfillment Center. While investing in Shreveport real estate remains challenging, change is on the horizon. The city hopes to recapture its former glory, but investors are advised to approach real estate purchases with caution.
Experts are warning investors not to buy property in some U.S. cities, with one city in Louisiana even making the list.
While we often like to think that our state is doing well, there are parts of the Bayou State that are not doing as well as others. Perhaps that is why one city is on the list of worst cities to invest in.
Gobankingrates.com recently did some research and they found cities all over the country that are not good places to invest in real estate. One major city in northern Louisiana made the list.
Sure, you can come up with a lot of jokes about the city or region of the state, but it’s still disheartening to see a Louisiana city on this list.
Unfortunately, Shreveport is the city we’re talking about here and according to the report, here’s why you should NOT invest in real estate here:
“Shreveport’s economic growth has been modest, largely because the city is tied to the oil and gas industry, which has become too unstable in recent years.”
Ben Johnson, a real estate agent, says this about the north Louisiana city:
“The city’s unemployment rate is still higher than the national average,” Johnson said. “Property values are flat and the local market is struggling with high vacancy rates and an almost total absence of major infrastructure development.”
If there’s any good news in the Shreveport report, it’s this: a massive bond package that will bring more than $250 million in infrastructure improvements to the city. Shreveport is also the new home of an Amazon Fulfillment Center set to open in a few weeks.
Although investing in real estate in Shreveport is not easy, change is on the horizon and we hope that the city will flourish as it once did. After all, it is a beautiful city.
To read more about cities they say you shouldn’t invest in, click HERE for the full report.
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