4 ms·
The thing is housing almost comes with a rock solid business plan and as a basic need is somewhat resistant to radical decreases in price (it is almost impossib
by scarby2 7y ago
The thing is housing almost comes with a rock solid business plan and as a basic need is somewhat resistant to radical decreases in price (it is almost impossible that your house would depreciate by 100% - company stock/your own business investments could).
With the way the market is it is likely that mortgage principal + interest + maintenance is actually less than rent...
- mywittyname 7y agoLots of things can drag down the value of a home to zero. Lack of maintenance or a natural disaster are two big ones, but also the neighborhood could turn to crap or an infrastructure crisis that isn't resolved. Add to that property taxes continue to accumulate on buildings. There are quite a few ways to drive a house to worthless. I used to live in a region where houses were <$10k because they were condemned shells in crime-ridden areas.
- xchaotic 7y agoIt still wouldn’t be 0. There’s land value and even in depressed areas like Detroit you see price rebound because you get good value for money.