It’s funny to hear the members of the national press parrot one another for months on end. That is until a new topic is launched then everyone gets on that train. On point, do you think Louisville is in good shape?
All we’ve heard lately is that the housing market is “horrible” or a “disaster.” Some areas are certainly on a downward trend, but that doesn’t make them horrible. Wait enough time and the trend will move upward. Homeowners who borrowed more than they can afford are certainly in a lot of financial trouble, but the rest of us have avoided that disaster.
However, the press continues to publish negative stories after negative stories about the housing market. So imagine my surprise when I read a different message. Amy Hoak has published a piece called, “Home prices aren’t tanking everywhere”, which paints a more balanced, and in truth, accurate picture.
This title makes perfect sense about what we’ve been hearing lately, but here’s the part that matters to you, my readers here in Louisville, Kentucky.
The housing problems largely aren’t national but regional in nature, said Susan Wachter, a real estate professor at the University of Pennsylvania’s Wharton School.
Wow! Sound familiar? It could be because I’ve been talking about it here and especially here. The reality is that the market is far from the “death trap” the national media makes it out to be so if you’re looking to make a move here in Louisville now may be an awesome time to purchase.
It all depends on the:
- value of your current home,
- value/asking price of the new home, and
- the interest rate at the time of purchase.
For many, there hasn’t been a better time to make a move. It all depends on your situation.