4 ms·
Why are those homes so cheap?
by supportengineer 3y ago
Why are those homes so cheap?
- PraetorianGourd 3y agoA mixture of: 1. The home being in a state of disrepair such that most lenders won’t fund a mortgage 2. Being located in a region where the local economy can’t support high home prices 3. Because of the lack of desirability, a lack of speculative investment.
- chasil 3y ago...and now that workers are remote and can live wherever they want, these are fair game. After driving through Port Lavaca, TX, that seems really nice. If you like snow, you will be happy with Rock Island.
- fuzzfactor 3y agoIf you like fishing you will be happy with Port Lavaca.
- danans 3y agoThe GP said: "with great damage" Which would explain why they are cheap, and also land in that area is very cheap, so it basically converges onto the price of the land.
- chasil 3y agoThe floors were all Weyerhaeuser oak, and they were not difficult to bring back. This is not commonly found. Really, the purchase price and renovation costs were rounding errors compared to coastal and major metro real estate.
- chasil 3y agoWe used to be the global manufacturer of farm equipment. The early 80's farm crisis closed several major players. Deere is still headquartered here, but plants are established in China and elsewhere. My area also hosts a U.S. arsenal with custom manufacturing for military equipment that has kept many people employed. We also have the largest aluminum press in the world that makes all the skin for Boeing, Airbus, and all the rest (Bombardier, Embraer, et al). I've worked for all of them. We never recovered from the loss of farm manufacturing, which has depressed home prices.
- deleted 3y ago[deleted]