It should be no surprise to you that things in Mortgageland are all topsy-turvy. The word “subprime” is almost taboo. A good percentage of Americans are already abusing credit yet choose to pursue risky loans all the same. The potential for financial calamity is great.
But while some parts of the country are suffering from falling home values and risky loan practices, Louisville, when compared to these locations, is relatively strong. This piece by Alex Davis underscores how local banks and lenders are capitalizing on the opportunity arising when national companies like Countrywide are taking major hits.
Republic Bank, a Louisville success story, is going on the offensive because they didn’t play in the subprime sandbox and have sufficient assets to cover loans. Here’s another piece of evidence that’s showing Louisville’s real estate market is rebounding.