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I would say, "Chicago." People in Chicago get really frustrated that they don't get to ride the wave of housing appreciation, but the flip side is that housing

I would say, "Chicago." People in Chicago get really frustrated that they don't get to ride the wave of housing appreciation, but the flip side is that housing seems to be overwhelmingly more affordable there. I'm sure part of that is the tax levels and general instability of the Illinois government, which put downward pressure on prices, like flooding insurance in hurricane prone areas. If you can't see filtering where you live, that says either that you're not looking, or that it's a place where new housing stock is being severely restricted. It varies by locale. In high rise condos, filtering may mean that the appliances are white, the floors haven't been refinished, and the bathrooms are original. In my hometown, it's houses without air conditioning; I can immediately recognize a house that has no A/C in my old neighborhood by its listing price, square feet, and bedrooms, which means that refraining from doing that retrofit keeps space open for lower income or lower net worth people.

seanmcdirmid 5y ago
In my area, those older houses have all been renovated by flippers. Flipped renovations were pretty depressing when we were looking: the house was priced like a new build, and the renovation wasn’t really to our liking (at least they all have A/C, usually modern heat pumps). So we just went for a new build. The flippers (basically investors) are looking for those places that would have been a cheaper entry point into the housing market, and after they are done with their 1-2 month renovations, they are no longer cheap entry points.
- QuarterReptile 5y ago
  I think your experience is pretty consistent with nationwide reality due to restrictive zoning, but it is more or less ubiquitous in locales depending on how tight the market is there. And I sympathize, because I've seen horrible examples of renovations, like people on Facebook forums proudly showing off their renovated kitchens, which scream "usability nightmare" to anyone who has ever looked at design standards. When I lived in San Diego, I could always recognize the work of the flipper who did my house because they used identical kitchen materials and appliances every time.
  - seanmcdirmid 5y ago
    I’m doing a partial renovation on our 2016 kitchen (when the house was built). Not exactly as bad as a flip, townhome builders make a lot of mistakes. Hopefully our reno isn’t a usability nightmare.

seanmcdirmid 5y ago

In my area, those older houses have all been renovated by flippers. Flipped renovations were pretty depressing when we were looking: the house was priced like a new build, and the renovation wasn’t really to our liking (at least they all have A/C, usually modern heat pumps). So we just went for a new build. The flippers (basically investors) are looking for those places that would have been a cheaper entry point into the housing market, and after they are done with their 1-2 month renovations, they are no longer cheap entry points.

QuarterReptile 5y ago
I think your experience is pretty consistent with nationwide reality due to restrictive zoning, but it is more or less ubiquitous in locales depending on how tight the market is there. And I sympathize, because I've seen horrible examples of renovations, like people on Facebook forums proudly showing off their renovated kitchens, which scream "usability nightmare" to anyone who has ever looked at design standards. When I lived in San Diego, I could always recognize the work of the flipper who did my house because they used identical kitchen materials and appliances every time.
- seanmcdirmid 5y ago
  I’m doing a partial renovation on our 2016 kitchen (when the house was built). Not exactly as bad as a flip, townhome builders make a lot of mistakes. Hopefully our reno isn’t a usability nightmare.