Real Estate Sop In A Recessionary World In St Bernard

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Image by noway via Flickr

The recession has not come to an end and Democrats and Republicans continue to haggle over the best way of continuing the economic recovery. On the whole, the economic prospects seem bleak and there is no reason to be confident of improvement in the real estate market in the country in the near future.

However, there is one place in the country which is actually offering sops to those who purchase property in the city. St. Bernard is offering waivers and sops to those individuals who obtain real estate mortgage loan and buy property in the city. The city lost more than half of its population due to the ravages of hurricane Katrina. This was a low point in the overall administration of the city and population fled from the city seeking better and safer alternatives.

No other major hurricane has hit this city since then but fear of the mishap still continues. The administration is at its wits end to solve the problem because lack of manpower is creating a vicious cycle. Lack of citizens is affecting standard of living which discourages others from migrating to the city. Authorities are hoping that the real estate sop offered at a time when people are being forced to file for foreclosure and bankruptcy due to inability to repay home loans will act as a stimulant.

Critics pointed out that a holistic approach is required and merely bringing people back into the city will not remove these scars. Critics called for wholesale improvement in the administration of the city to ensure such a crisis never occurs again.

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