It’s difficult to digest the seemingly never-ending stream of negative press that comes from the national media regarding the housing market. To make matters worse, this is a situation where perception affects reality. If you “think” the market is down it affects how you respond to a buying or selling decision. It’s a cycle. The more negative press that’s being generated, the more negative things shall go.
Here in Louisville, it’s not as bad as all that. Mr. Coomes is spot on.
“This is not a boom place. And we have not had the speculative bubble here, and so therefore, we’re not having the bust,” said U of L economist Paul Coomes.
That’s correct, but here’s a vital piece of the puzzle that goes practically unreported. People who don’t have a property to sell have an amazing opportunity to buy at a very good price. Just because the market is tough on sellers, doesn’t it stand to reason that it’s good for buyers?
I certainly believe so. Here in Louisville, I see some properties that are significantly below assessed value which are bargain buys for the right person. Talk about Black Friday. Why aren’t we hearing about this side of the story? Unfortunately, I think I already know the answer to that.
