Is the housing slump already over in Louisville? (Lexington: foreclosures, mortgages)

[censusdata]

Several recent articles in the CJ seems to indicate that housing in the Louisville area is already out of a slump. Prices rose 4% and foreclosures are down by nearly half in the past year. Louisville was already among the top 20 percent of Metros during the housing slump.

My two cents as to Louisville's success would be that 1. our housing prices weren't overinflated to begin with, and 2. more than HALF of the Metro area's population lives in Jefferson Co, meaning commutes are shorter and thus gas prices have less of an effect here compared to CA, Atlanta, Nashville, etc

In Cincinnati foreclosures have risen 65% in the past year!


Louisville home prices rose 4% in 2007 | courier-journal | The Courier-Journal
Foreclosures drop in Louisville | courier-journal | The Courier-Journal
Cincinnati foreclosures up by double digits - Business Courier of Cincinnati:

[missymomof3]

Originally Posted by censusdata

Several recent articles in the CJ seems to indicate that housing in the Louisville area is already out of a slump. Prices rose 4% and foreclosures are down by nearly half in the past year. Louisville was already among the top 20 percent of Metros during the housing slump.

My two cents as to Louisville's success would be that 1. our housing prices weren't overinflated to begin with, and 2. more than HALF of the Metro area's population lives in Jefferson Co, meaning commutes are shorter and thus gas prices have less of an effect here compared to CA, Atlanta, Nashville, etc

In Cincinnati foreclosures have risen 65% in the past year!


Louisville home prices rose 4% in 2007 | courier-journal | The Courier-Journal
Foreclosures drop in Louisville | courier-journal | The Courier-Journal
Cincinnati foreclosures up by double digits - Business Courier of Cincinnati:

Thanks again Cesus!

[rnc76]

I wouldn't get too excited until the national economic picture looks better. I doubt Louisville will get hit too hard compared to other overpriced metros. I have a bad feeling we are headed toward true economic hard times. Our country has completely lost common sense when it comes to finances. This can be seen all the way from individuals up to large corporations, banks and the federal government.

[censusdata]

The fact that Kentucky's largest urban areas aren't as "Sprawly" as most other states does help absorb the blow of $4 gas. Louisville & Lexington both have well over HALF of their Metro Area's population w/i their central county, most of NKY is either near the airport jobs or the urban core of Cincy. In another depression, we also have very fertile land and lots or rainfall to grow our own food in backyards, not to mention great sources for city water like the Ohio & KY rivers.

[emanresu]

I think I read or heard somewhere that over half of the homes in Louisville do not have mortgages on them. I think that is a great help in the "foreclosure" crisis. Basically, it is impossible to foreclose on half of the housing stock.