I don't doubt that the housing crash is less severe in places like Kentucky, who didn't see the insane run up in home prices like they did in Phoenix, Miami, San Diego etc.
But the Great Unwinding, the crackdown on fraud, the inability to get a no-down, no-doc liar's loan mortgage, and a return to sanity and the fundamentals is affecting every market in America. Every market. Kentucky - got some bad news for ya. You're not that different.
Group says Central Kentucky home sales down 16 percent
Members of the Lexington-Bluegrass Association of Realtors sold 835 properties in the first quarter of 2008, the association said, but that total was down 16 percent from the same period of 2007.
The median sales price -- half of all sales were for more and half for less -- declined 1 percent for the 2008 quarter and dropped 5 percent in March 2008, versus the same periods of 2007, the association said.