Our friends over at The Lens published an article that examines the trend in New Orleans (and other cities like New York), where condos are owned by out-of-towners that do not reside in the city permanently.
The one development The Lens points out is Jax Brewery, where apparently only 3 out of 25 units have full time residents!
Among other things, the article points out that the city needs to examine this trend and evaluate the long term economic benefits, sufficiency of property taxes, and the extent to which permanent residents contribute more to the local economy and culture than absentee owners.
What do you think, is this a good trend? What, if anything, should the city do about it?