Interest rates are down, but housing costs remain stubbornly high statewide, according to the latest annual report from the Louisiana Realtor Association. Prices have generally stabilized after a tear of housing costs coming out of the pandemic. The group’s affordability index dropped 29% since 2021, reflecting a dramatic increase in home prices. Industry analysts point to three “i’s” — interest rates, inflation, insurance and inventory — as the key factors in elevated prices.
Most of the issues are out of the control of local and state policy, apart from insurance. Critics say state lawmakers and…..