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Lafayette, Louisiana: A Different Kind of Real Estate Market!
With all the never-ending news about the housing bubble, the record number of foreclosures, and the fall of home prices on a national scale, I can't count the number of times that I've had to explain to my clients that none of this applies here in Lafayette, Louisiana. Real estate is a very local thing and Lafayette has been a different kind of place in the past few years when it comes to housing and housing prices.
If we look at home prices on a national scale since the 1970s, the bubble is obvious. Home prices almost doubled in a 7-year span between 2000 and 2007. Why some thought this would last is beyond me and beside the point. And while homeowners who bought at the wrong time in the wrong area may never recover the loss in the value of their home or investment, it's easy to see that home prices have already recovered. Home values are now where they would have been had the housing market just followed its natural pace. This is what makes people say that we have hit bottom and that the tide is about to turn.

 Now look at the graph I found for ... more

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