Star feature on slow price appreciation in Indy

The Indianapolis Star reported last week on the relatively slow price appreciation in the Indy area relative to other large metro areas. The article presents some pros and cons; for example, there is likely no "bubble" that may burst.

However, we at IAR have researched Indiana's high rate of foreclosures and found strong links to slow home values gains. We also know that household spending and related economic activity are hampered by slow price gains. It is important to maintain affordability and market this advantage with respect to economic development, but we must also grow the economy to reward homeowners with stronger, steady appreciation.

The article features this quote from Gary Warstler, Executive Vice President of F.C. Tucker & Co.:

"It's a very good neutral market -- not like California or New York. Houses are not skyrocketing, so people don't have to be concerned (about a sudden decline)," Warstler said.