Yep. When you see places like this in the US it is basically always the case that local incomes are shockingly (to a coastal or mountain-west sort) low, maybe c

Yep. When you see places like this in the US it is basically always the case that local incomes are shockingly (to a coastal or mountain-west sort) low, maybe coupled with stagnant or very slow population growth. You end up with decades worth of high-end house construction—some likely from better economic times—being competed over by only a tiny sliver of the local population who can afford the half-million to one-million range, for housing. When population and economic growth go negative, you'll see whole areas of amazing, beautiful houses rotting where they stand, because no-one wants them or because they've gotten so cheap that people who can't afford to keep them up can afford to buy them.