Interest rates, insurance, disasters, oh my … buying a home is more challenging than ever – everywhere

Insurance rates are routinely overshadowed in media coverage. (Image courtesy of Pixabay)

Issues like surging interest rates, escalating inflation and fewer insurance carriers intensify the struggle for homebuyers. Comparisons with past downturns – 2008, early 1980s – fall short due to the multifaceted challenges today.

Despite Louisiana’s recent luck in avoiding hurricanes, insurance carriers continue to rapidly exit the Gulf Coast, still reeling from the impact of seven named storms in 2020. But we aren’t alone. Explore the insights I’ve learned from a recent conversation with Jim Gilmour, regional director for Engel & Völkers resorts, who oversees business development across seven states and 1600 advisors in destination communities like Aspen, Napa, Coeur d’Alene and Park City.

– Marty Brantley, Engel & Völkers New Orleans, The New Orleans 100