Another abysmal economic report on Louisiana is the same sad song, and it’s bad news for state legislators who had opportunities to push bold, positive changes but failed to do so over the past four years.

This time, our Louisiana homeowners are losing the equity in their homes, through lower prices and higher borrowing, while U.S. homeowners’ residential equity grows. A national real estate data aggregator and curator, ATTOM Data (see, www.ATTOMData.com), has released its study of second quarter 2023 changes in residential equity in all 50 states.  The ATTOM report finds that U.S. low debt – high equity mortgages in the U.S. went up from 47% to 49% of residential mortgages across the U.S.

In comparison, Louisiana’s low debt – high equity mortgages, went from bad to worse, going from 24.1% to 23% of Louisiana residential mortgages.  Not only are there 50% less Louisiana homeowners with low debt – high equity loans, it is getting worse.

This report is just another confirmation of Louisiana’s economic decline created and magnified by our decade long out-migration problem.  To reverse out migration, Louisiana voters must demand drastic – strategic and substantial – changes in our state government burdens on businesses and families.

The only hopeful economic news in front of us is that Louisiana has elections coming, and we (the voters) are in a position to vote the incumbents out and to support new leadership, new talent as our new representatives and new senators.  The incumbents (especially ones with more than four years’ experience) have proven that they can only made Louisiana worse.

Most politicians, particularly incumbents, are likeable people. Unfortunately for them and us, the actions and judgment of the current crop running our state has totally failed to bring Louisiana’s businesses and people back.  I am sorry, but Louisiana’s decline has been occurring for a decade:  Enough decline is enough decline; so out with the bad, and in with the new.

New legislators, with a new Governor, might just bring us Louisiana Excellence.  That is what we all want for our families and our businesses.  We can turn this state around the same way that Texas, Tennessee, Florida and South Carolina have.  Lower taxes, bring back businesses and our workers.  More business brings us more wages and higher wages.  Legislative funding of our law enforcement will bring back safe streets.  Safe streets will bring back business and tourists.   And payment of teacher retirement debt will bring our teachers raises, through the actions of the local governments who are their proper employers, and, hopefully, facilitate better teachers and better schools for our children.

This session our incumbents had a $2 billion surplus.  They had the chance to strategically bring back Louisiana Excellence.  Instead, the flunked their own economic test.  Lots of them are nice people, but Louisiana’s families desire better and deserve better.  Louisiana should not be the economic pit of the Southeast. Our incumbents have driven us down to this pitiful point.

If you ever wanted to run for State Representative or State Senator, now is the time.  Your platform is obvious, and outside of a very small number of folks, your incumbent has failed us.  Most importantly, qualifying to run for State Representative or State Senator starts August 8^th, and goes through the 9^th and 10^th.   The Secretary of State or the Registrar of Voters in your Parish can tell you what District you are in.  Talk to your friends and get ready to qualify to run when the time comes. Repealing Sales and Income Taxes, creating the means for real teacher pay raises, and funding law enforcement to realize safe streets are all part of Louisiana’s Economic Cure.

To be elected, we need your personal commitment to save Louisiana from our overburdening State government.  A winning platform is easy:

• Cut sales taxes and income taxes;
• Put a freeze on State government;
• Use our existing revenues to fund law enforcement, including necessary incarceration.

You can build your own “Louisiana Excellence” campaign platform.  The other southern states have proven that “Repealing Taxes and Growing Louisiana” worked there and will work here.  Our incumbents have refused for a decade to starve Baton Rouge.  Instead, the incumbents have starved the workers and businesses of Louisiana.

Get ready for new legislators.  We still have our best and brightest in Louisiana.  Let’s elect them.

Paul Loy Hurd, Attorney At Law; Father of three boys, four grandchildren, all living outside Louisiana. Radio host of “Hurd’s Louisiana Live” talk radio; weekdays, WGSO 990AM (New Orleans); can be reached at paul@paulhurdlawoffice.com.