Let’s Talk… New Orleans and Houston!!

I work in both Houston and New Orleans, and I often see people comparing one city to the other. It’s really like comparing apples and oranges, as the two cities are very different. One is like a small country, and one takes me 15 minutes to get downtown from one of the furthest suburbs. In my recent visit to New Orleans however, I noticed some similarities that I find troubling.

First, many restaurants and small businesses are struggling. Every week on the Houston Memorial Area foodies group I read of a restaurant closing. In Nola last month, I ate lunch at a place that used to be popular but this time I was the only one there. The same thing happened two days later at another restaurant. It was empty. I stopped at two shops where I buy Nola themed stuff to get a tie for my son, and both were empty. Little to no customers.

Second, rising insurance costs due to weather events are hurting people financially. At least in Houston, you can get a homeowners insurance. In Nola and the surrounding areas you have to go to the state plan which is very expensive.

Third, Natalia and I went grocery shopping at H-E-B a couple of weeks ago. Some food items that we were paying $9-10 for a few months ago are now $12-14. That’s almost a 30% rise in cost over a few months. Nola is the same, albeit there aren’t many high paying corporate jobs that allow people to sustain themselves even though the prices have gone up.

In the end, I love both places, and I hope things get better for people and small businesses there soon!

The content in this material was created for educational and informational purposes only and is not intended as an investment advice.

The opinions voiced in this material are for general information only and not intended to provide specific advice or recommendations for any individual.