ord sunshine pumpers

life in rural nebraska

What housing bubble?

with one comment

Rural America was spared the economic collapse from the housing boom and bust, which contributed to the into our glorious recession.

Daily Yonder has a nice take:

“Housing prices in rural America have outperformed those in the cities for the past two years, according to a recent report from the Federal Reserve Bank of Kansas City. That doesn’t mean rural housing prices have risen. They haven’t, reports economist Chad R. Wilkerson. But housing prices in rural areas, on average, have been relatively stable.”

Rural America survived by fiscal responsibility, not fueiling a housing boom with exotic mortgages, .  Wilkerson adds,  “better credit underwriting standards by rural lenders” reduced the number of mortgages written for people with little income and no down payments.

Thank goodness indeed.


Written by Caleb

January 7, 2009 at 7:04 pm

One Response

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  1. […] there is reason to be somewhat cautiously optimistic.  Without that boom, as I had talked about earlier this week, we may be spared some of the carnage taking place in California, Arizona, Nevada and […]

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