Sky-high home costs leave many priced out of New Orleans

When you're a 26 year old CEO of a 4 million user but zero profit startup, you get access to Goldman Sachs and Andreessen Horowitz venture capital.

You also have access to $50 Million in crowd sourced capital with a JOBS Act provision provision that was signed into law in 2012 and went into effect this spring.

http://www.entrepreneur.com/article/244278

It's not your buddy and his wife that's been working 20 years and saving that are buying up the Bywater.

But it's really not AirBnB either. People who rent AirBnB aren't putting cash down for property, although when you live somewhere for 10 years the changing faces every weekend next door is an easy to pinpoint symptom.

Money at 2.82% is a cheap commodity that flows from Wall Street into venture capital coffers and the captains of VC redistribute the billions into promising new facebooks in San Francisco, Austin, maybe New Orleans.

Suddenly you're worth 6 million because you were funded and your company's just gone public. Being rich but an outsider you still can't get into the Quarter but you can buy a place for your friends to party walking distance from Bourbon. Then you buy a few more because holy shit 120K is less than my car. I can sit on these with AirBnB and holy shit I keep buying more and Trulia says my rate of return is nearing 200% on investment.

Why make money waiting for a company stock to tick up slowly. I can spike the valuation of my portfolio just by overbidding on real estate in the same zip code.

The closer you get to the startup world, the more it looks like make believe. And to a lot of outsiders, New Orleans is Old World and the embodiment of authenticity.

But its not outside the reach of 2015.

/r/NewOrleans Thread Link - ltv.com