Why is Louisiana losing residents?

Louisiana is losing residents due to factors like high housing costs and a significant number of homeowners with mortgages exceeding their home's value.

What is Hyundai Steel's impact on Louisiana?

Hyundai Steel's planned $5.8 billion mill is a major project aimed at boosting Louisiana's economic competitiveness and attracting businesses.

How bad are underwater mortgages in Louisiana?

Louisiana has one of the highest shares of "seriously underwater" mortgages, where homeowners owe significantly more than their home's value.

Home / Business and Economy / Louisiana Faces Exodus Amidst Economic Boom

Louisiana Faces Exodus Amidst Economic Boom

7 Jan

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Summary

Louisiana continues to be the state with the highest outbound migration.
A significant portion of Louisiana homeowners face seriously underwater mortgages.
Major projects like Hyundai's $5.8 billion mill aim to boost economic competitiveness.

Louisiana Faces Exodus Amidst Economic Boom

Louisiana is grappling with a persistent population decline, identified as the nation's most "outbound" state in a recent Atlas Van Lines study. Despite this ongoing trend, state leaders are highlighting significant economic development projects, such as Hyundai's planned $5.8 billion mill in Ascension Parish, which aims to enhance business competitiveness.

The state's population peaked in 2020 and has since seen a steady decrease, with recent projections showing only a marginal increase. Compounding these demographic challenges, a substantial number of Louisiana homeowners find themselves "seriously underwater" on their mortgages, owing at least 25% more than their homes are worth. This financial predicament, particularly prevalent in parishes like Calcasieu and Rapides, restricts homeowner mobility.