Computer Crashed New Orleans Real Estate Market

sustik writes "For a month now the New Orleans real estate market has been crippled by a computer crash that caused the loss of online data from the late 1980s that should be researched prior to the closing of any real estate transactions. 'The clerk of Orleans Parish Civil District Court said Tuesday that her office continues to make progress in resolving the computer problems that have been holding up real estate transactions in New Orleans for the past month, but there still was no indication of how soon the crisis might end.'"

Comments

Re:Probably had an expensive snake-oil backup syst

[Anonymous Coward]

Yeah, I've been dealing with this issue for the last 30 days as I sell properties across the county and a few in New Orleans. It's been a nightmare. But apparently, the back up procedure wouldn't work for some reason. They've got it mostly up now though and or only missing the last year's transactions. Still a pain in the ass but real estate is slowly moving again.

Re:Objectivists are idiots.

[winwar]

"....but that Social Security ain't gonna look so pretty if we keep running a big fat deficit..."

Social security has a dedicated funding source. Which is why people are trying to cut it or privatize it. They want access to the money.

"...to say nothing of the way that the public employee pension systems are built to assume 10% rates of return and contractually put the taxpayers on the hook for a shortfall."

And this is different from any other pension system how? Public pension systems are extremely well designed and run. It is the legislatures that fail to fund them or treat them like piggy banks that are the problems. People who are anti-pension are anti-worker. Pure and simple.