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Personally, I do not want to buy a home because all the homes I can afford are old garbage homes built over 50 years ago and would require way too much maintenance to be worth it.
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Sep 7, 2016 20:02
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| # ¿ May 17, 2024 16:19 |
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There is actually a huge problem with city neighborhoods where all the homes were built at the same time, by the same developers (usually who also are in with the local aristocracy) and built in the same style or manner. It ends up being a ticking time bomb that blows up after several decades because all of a sudden all the homes in a region start falling apart at the same time. The people who can't afford the increasing maintenance costs all look to offload their homes at the same time, creating a glut in the local housing market. This causes house prices to fall for everyone, including the people who originally didn't want to sell. But now their home price keeps falling, the house gets more and more expensive to maintain, and people panic. If the downward spiral isn't aborted, this can gut whole neighborhood. All because the same people built the same houses at the same time and in the same manner.
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Sep 7, 2016 20:09
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