In transition: The number of Louisiana families still living in FEMA trailers after the 2016 flood in the Capital Region has dropped to below 1,000. The Federal Emergency Management Agency says more than 3,500 households have moved out of the mobile homes nearly two years after the disaster. That’s about 82% of those who received them following the 2016 floods. About 999 households remain in the FEMA mobile homes, including 439 in East Baton Rouge Parish. Read more.
Diversifying: A subsidiary of Buckeye Partners has purchased Gulf Island Fabrication’s Texas South Yard for $55 million, according to a news release. Kirk J. Meche, President and CEO of Gulf Island, says the sale of the underutilized assets includes the two fabrication yards and related equipment at the company’s South Texas facilities. The sale will facilitate Gulf Island’s continued efforts to reposition itself from the offshore oil and gas market to more diversified markets and customers. Houston-based Gulf Island has fabrication facilities in Louisiana and Texas. Read more.
Supply crunch: U.S. sales of existing homes increased 1.1% on a monthly basis in March, suggesting buyers are undeterred by the dwindling number of properties available on the market. The National Association of Realtors says homes sold last month at a seasonally adjusted annual pace of 5.60 million, up from 5.54 million in February. This sales rate is higher than the 2017 total, but March sales were down slightly over the past 12 months. The housing market continues to be in the grip of an inventory crunch that has restricted sales and growth in home ownership. Read more.
