At first it was inexpensive homes in Louisville that began to fall into foreclosure as the hard economic times began to hit Kentucky. Then some of the cities nicer areas began to get hit, homes in more upscale areas where more middle class families were living began to fall into foreclosure. Now there seems to be a new trend in the foreclosure tidal wave that is hitting the city and it’s claiming multi unit buildings that investors have just left behind. Abandoning the very projects they work so hard to get funded prior to the real estate downturn of 2007.

Its been reported recently that over a dozen large multi-unit properties across the city have already been auctioned off this year alone and many expect that number to only grow as the year draws on.

Unfortunately for Louisville and its residents this might be just the beginning of the process as many of the cities residential developments are now stalled or have failed all together.