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Forlorn US Housing Can’t Catch A Damn Break
They're, um, still struggling to buy the homes.
"They" is any American who wants a house and doesn'
When potential buyers realize the “future, ongoing costs” resulting from buying an aging home – purchasing at these prices, on top of high real estate taxes, insurance, and interest- the numbers just don’t work.
Sellers are hoping to shift the cost to rectify deferred/ignored maintenance (often ignored for years, if not decades by the existing owner) to the buyer
From chatgpt:
Age Distribution of Housing Stock
The age of homes varies across the country, with a notable concentration of older homes in certain regions:
REGION MEDIAN HOME AGE
Northeast 50+ years
Midwest 40-50 years
South 30-40 years
West 20-30 years