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Why You Might Retire To A Tiny House

From Marketwatch.com: Last year, 66-year-old Lauren Knoblauch sold or donated nearly everything she owned, from her two-bedroom home on a suburban Seattle lake to her furniture and many of her clothes. She moved everything else, two small carloads’ worth, into her new home: a downtown apartment that, at less than 150 sq. ft., is smaller than the average U.S. master bedroom. Read more.

Tiny House

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What To Expect From The Louisville Housing Market in 2016

Economist John Kenneth Galbraith once quipped, “There are two kinds of forecasters: those who don’t know, and those who don’t know they don’t know.” Keeping this in mind, it is with a sufficient dose of humility that we offer a few thoughts on factors that may impact the Louisville residential housing market next year.

  • Because of an ongoing lack of inventory it will likely continue to be a seller’s market in 2016. Absorption rate measures the rate at which available homes are sold in a specific real estate market during a given time period (calculated by dividing the total # of homes by the number of sales per month). A balanced market – one that favors neither buyers nor sellers – has an absorption rate of 6 months. According to a December 22 post from Louisville Homes Blog, November Louisville’s absorption rate was an eye-opening 3.68 months. Additionally, there has been nearly a 20% decline in the number of active listings since November 2014.

 "There are two kinds of forecasters: those who don’t know, and those who don’t know they don’t know." - John Kenneth Galbraith

  • Basic economics tells us that with lower supply one can expect higher prices. But even with a lack of inventory there may be a ceiling on home appreciation for the next few years. The S&P/Case-Shiller Housing Index estimates that nationally home prices will rise 3% in 2016 and 2017. This contrasts with an annualized growth rate of 9.5% since the end of 2011, when the Index declared the housing market had hit bottom after the recession.
  • The recent decision by the Federal Reserve to raise the federal funds rate likely signals the beginning of the end for historically rock bottom mortgage rates. This is not...

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