Louisville’s Recovery from the Recession Lagging behind Other U.S. Cities

Louisville real estate professionals, merchants and other businesspeople got some unwelcome news recently when the Brookings Institute published a report that indicated Louisville is lagging behind other U.S. cities in recovering from the recession. Key economic indicators for the first quarter of 2009 presented to elected officials from Louisville showed that while the city was showing some signs of recovery from the recession, it was not recovering as quickly as hoped. The report ranks 100 metropolitan areas around the U.S. in several categories and the greater Louisville area—which comprises 13 Indiana and Kentucky counties—ranked in the lower half of cities in four of six categories. In unemployment, Louisville ranked 78 out of 100. In the total economy produced by the Louisville area, or gross metropolitan product, the city was 99 for the first quarter of 2009. In average wages, Louisville ranked 95. However, the news wasn’t all bad for the Louisville metro area. Louisville home prices ranked 24 and in real-estate owned properties, the city came in at 46. Reacting to the news, Greater Louisville Project representative Carolyn Gatz had this to say, “Well, I think the data shows—and most of us know—that the recession has hit our community very badly. I think that’s true in what they call ‘older industrial cities,’ cities that are trying to make this turn from a 20th century economy to a 21st century economy. That’s why today we’re going to be talking about the interplay between education and jobs, 21st century jobs, and I think the Brookings data just showed what a challenge and what a sense of urgency we as a community need to have to deal with these issues.” If Louisville home prices and the federal tax credit for first-time homebuyers has you thinking about buying a home in the area, call the Louisville real estate experts at Louisville Properties today at 502.744.9504. You can also contact them through their contact form for a fast response. With many years of experience helping area resident buy and sell Louisville real estate, they can help you sell your home quickly or assist you with finding the perfect Louisville home for sale.

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James Powell

Jim Powell has over 20 years of experience buying and selling luxury real estate in Louisville, KY and Managing over hundreds or rental properties across the city.
Jim Powell (License #191501)

Lauren Ghanavatian

Lauren Ghanavatian attended Assumption High School and the University of Louisville. Growing up in Louisville gave her a sense of the unique and diverse communities this city has to offer.

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Louisville Properties is a full service Louisville Real Estate Company for buyers and sellers of real estate. We offer the following services
3418 Frankfort Ave #100 Louisville, KY 40207 Louisville, KY 40207
United States
Phone: 1-502-744-9504

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