re: Fannie Mae Downgrades Housing, Origination Forecast

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There is a house in my neighborhood that is on the edge of the historic district that’s 1000 sq feet and was bought for $60k in 2005. They just sold it for $150k in complete disarray.

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Yep.

Similar story for a house up the road from us that we looked at when we were buying in '21. 3 bedroom, 1 bath (was our big deterrent, we wanted 2 but considered building one in if needed). Attached garage. Decent plot of land. Once we got inside it had never been updated so we would've had to do a full remodel. I'm talking shag carpet, wood paneling, wallpaper border, etc.

It just sold the other day, as is, for over $300k. And the average household income in Louisville is like $54k. This can't sustain itself.