I don't feel qualified to comment on much found in this C-J column except the part about...you guessed it...housing. It's not necessarily a bad thing that April housing starts for new construction are down nearly 7.5%. This is evidence that the market works. It is no wonder developers & builders are less inclined to build new when inventory is creeping up. The total number of home sales is down based on last year in some, but not all, locations across the country, which shouldn't come as a surprise either given the five consecutive years of housing sales records that preceded the decline.
There are some metros that are benefitting from the pie in the sky prices that are being asked in the "boom" markets. This should come as no surprise. Not everyone can live, nor should they want to live, on the West Coast or in other areas that saw heavy gains in the past five years. It only stands to reason that nice cities with strong economies will attract pools of buyers unwilling or incapable of purchasing in their "dream" location. Attractive affordable metros like Albuqurque, NM & Denver, CO are prime to see nice gains.
The news for Lousiville looks good as well. The recent decision by UPS to add nearly 5,000 new jobs in the coming months will certainly help to absorb a chunk of the housing inventory.
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