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Louisiana’s insurance crisis expected to hang over real estate market in the coming year

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Louisiana’s insurance crisis expected to hang over real estate market in the coming year


NEW ORLEANS (WVUE) – The New Orleans Metropolitan Association of Realtors (NOMAR) hosted its annual Forecast Symposium, where real estate professionals gathered to discuss key factors impacting the housing market.

A major theme this year was Louisiana’s ongoing insurance crisis, which is severely affecting home sales and affordability.

Craig Mirambell, president of NOMAR, says soaring insurance premiums have become a central issue.

“Insurance prices are really outrageous, interest rates being high, the economy is slow, elections are coming up. We got a lot of negatives, but the good thing is homeowners have kept the equity in their houses,” said Mirambell.

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Mirambell says Louisiana’s insurance crisis has been pulling down the state’s housing industry for the last two years. He believes the most recent hurricanes along the Gulf Coast can only complicate matters.

“Even though we didn’t get a direct hit here in Louisiana, seeing these come to our Southern friends, is ultimately not going to help our insurance rates at all assumably. So that wasn’t needed, the costs that are coming with that are ultimately going to keep prices high,” said Mirambell.

Those prices have made it very tough for some realtors to sell homes. That means less money is coming in.

“To be honest, I used to do real estate full-time. I do not do it full-time anymore because it’s just too hard. I have a family as well. So, I can’t put everything on these deals happening, because I need them to happen. If they don’t happen, then my clients aren’t happy and then family isn’t happy,” said Misty Frye of Frye & Melancon Realty in New Orleans.

INSURANCE CRISIS

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Misty Frye has been an agent for 17 years and says the cost associated with a buying home in Louisiana can often put potential buyers on an emotional roller coaster.

“People can be tearful, they’re upset. They think they’re getting to the finish line and then something comes up and it’s like, oh no, you can’t do it, the insurance blew it out of the water,” Frye said.

Dr. Jessica Lautz was a featured speaker at this year’s symposium. She is an economist for the National Association of Realtors. She brought a broader view to the forecasting conference and said Louisiana’s real estate industry is facing several headwinds, including declining population.

“In most areas of the Sun Belt, we see a mass migration into those areas, but unfortunately Louisiana is not seeing that. So, we don’t have that in the New Orleans area. Job growth has not rebounded since before the start of COVID and that could be restricting people from moving here. Though what I have to say affordability is definitely in a better in a better scenario than what we see in other areas of the country,” said Dr. Lautz.

Despite the multiple challenges the New Orleans real estate market has faced in recent years, NOMAR’s board president predicted an improving market in 2025.

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“I’m always an optimistic kind of guy. I like to bring that to our boardroom, our clients and consumers. Ultimately, we are at a slower time in the market right now. The market has been slow. We had an uptick in COVID that was kind of wild and crazy. Surely, it had to go down from there. Once, the election is over and people settle down from that, we expect the market to pick up in 2025 regardless of insurance prices.” said Mirambell.

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Louisiana

Louisiana babysitter arrested after toddler drowned in pool and wasn’t found for 20 minutes

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Louisiana babysitter arrested after toddler drowned in pool and wasn’t found for 20 minutes


A Louisiana babysitter was arrested after a toddler fell into a pool and drowned after being left underwater for 20 minutes, according to authorities.

Joann Johnson, 37, was charged with one count of negligent homicide on Wednesday after the 3-year-old boy died in her in-home daycare in Prairieville on May 18, according to the Ascension Parish Sheriff’s Office.

Joann Johnson, 37, was arrested after a toddler fell into a pool at her in-home daycare and drowned after being left underwater for 20 minutes. Ascension Parish Sheriff’s Office

Two young children in Johnson’s care were playing in the backyard that afternoon, “without any safety wear,” when the 3-year-old fell into the pool and drowned, cops wrote in a statement.

The toddler was unconscious for a whopping 20 minutes before Johnson was seen on surveillance footage pulling him out of the water, police said.

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Police officers stand on the porch of a single-story house with a white exterior, gray shingled roof, and three dormer windows.
Emergency responders rushed to revive the boy with CPR, but he was ultimately pronounced dead at a local hospital.

Emergency responders rushed to revive the boy with CPR, but he was ultimately pronounced dead at a local hospital.

Police filed an arrest warrant for Johnson following an investigation. The babysitter turned herself in on Wednesday and was booked into the Ascension Parish Jail.

Drowning is the number one cause of death for children 1-4 years old in the US, according to the Centers for Disease Control and Prevention.



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Louisiana Tech launches Center for Literacy and Learning to support students, educators

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Louisiana Tech launches Center for Literacy and Learning to support students, educators


RUSTON, La. (KNOE) – Louisiana Tech University’s College of Education and Human Sciences announced it has established a new Center for Literacy and Learning designed to expand evidence-based reading support for children and professional development for educators across North Louisiana.

The university’s Department of Curriculum, Instruction, and Leadership said the launch of the Center for Literacy and Learning at Louisiana Tech, also known as L3, will provide diagnostic assessments, tutoring and workshop opportunities, combining academic research with hands-on clinical practice.

“As literacy rates and reading achievement continue to present challenges across Louisiana and the nation, the Center for Literacy and Learning is rooted in supporting evidence-based instruction, applied research, and community partnerships,” said Dr. Dustin Whitlock, interim department head of Curriculum, Instruction, and Leadership.

Officials said planning for the center began more than a decade ago as faculty sought to expand literacy services for local schools and the surrounding community, but the effort faced delays due to space and funding challenges.

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University leaders said momentum increased after faculty partnered with the Louisiana Department of Education and literacy experts nationwide to create a professional learning course for Louisiana K-3 educators. The course, “The Science and Art of Teaching Reading,” focuses on structured literacy practices aligned with Science of Reading research. Louisiana Tech said funding connected to the course and the state education department helped make the center possible.

Megan Hunt, a teacher at A.E. Phillips Laboratory School, was selected to lead the center. Whitlock said Hunt brings a strong background in foundational literacy instruction and is working toward becoming a certified UFLI coach.

“Mrs. Hunt’s skill and expertise allow her to support both students and educators through high-quality literacy instruction and professional learning,” Whitlock said.

Hunt said the center is aimed at building long-term support for literacy instruction through collaboration with districts, families and community partners.

“Literacy affects all aspects of life and is ultimately how people access opportunity and how communities grow stronger,” Hunt said. “When children become proficient readers, it represents more than just academic progress; it changes the trajectory of their lives.”

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Local school leaders also praised the partnership. Michelle Thrower, K-2 facilitator for Lincoln Parish Schools, said professional development and resources connected to Louisiana Tech have supported literacy growth in the district.

“Our collaboration with Louisiana Tech has been a cornerstone of our success in elevating literacy proficiency across Lincoln Parish Schools,” Thrower said, citing DIBELS growth tied to the UFLI Foundations curriculum in K-2.

Louisiana Tech said the center will operate through three main components:

  • The Literacy Clinic
  • The Literacy Institute
  • The Literacy Resource Center.

The center is expected to provide individualized assessments, targeted intervention services, literacy workshops and educator professional development.

Officials said the components will be developed in phases over the next few years.

For more information, Louisiana Tech said the public can contact Dr. Dustin Whitlock at whitlock@latech.edu.

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Louisiana among states selected to receive federal funding for rare earth projects

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Louisiana among states selected to receive federal funding for rare earth projects



The U.S. Department of Energy announced Tuesday that Louisiana was one of the few states chosen for a $134 million rare earth element initiative in a move that would give the U.S. more independence from China, Reuters reports. 

ElementUSA has been awarded about $67 million for a rare earth refining facility projected to cost $850 million in St. John the Baptist Parish to ramp up its production of core material for military vehicles, naval ships and aircrafts.

Louisiana’s rare earth element initiatives are aimed at relocating the critical American minerals supply chain for electric vehicles, renewable energy and national defense. The minerals include bauxite residue, which is a waste product from aluminium production. The plant is expected to produce roughly 150-1,000 metric tons of rare earths annually.

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Oklahoma was also chosen to receive grant money for a refining facility in Tulsa.

Reuters has the full story.

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