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Why are these USA houses so cheap?
Comments
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Answer: Land and fuel are cheap.
If you can't afford somewhere in the city you can just live further out in the subburbs and commute in. It is normal in the US to commute for several hours a day. The result of this is there is no need to cram yourself in a city center bedsit, you can live an hours drive away where these is plenty of "unwanted" land. With our fuel costs and small country, if you lived an hour away from work, you'de probably be in ANOTHER city center. In fact barring northern scotland there are few places in the UK where you are more than 30 minute drive from a city center.
Oh, and one more thing... building regs in the US are appalling. Remember florida... all those houses getting flattened? Well if they had used screws instead of nails they would all still be there. But they didn't and the wind got under the porches and just lifted the roofs off pulling the nails clean out, and with no roof holding the side together the rest just collapsed. Thousands of houses blown flat just to save a couple of hundred dollars.Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.0 -
.. building regs in the US are appalling. Remember florida... all those houses getting flattened? Well if they had used screws instead of nails they would all still be there. But they didn't and the wind got under the porches and just lifted the roofs off pulling the nails clean out, and with no roof holding the side together the rest just collapsed. Thousands of houses blown flat just to save a couple of hundred dollars.
SN.
Do you have a link to support your supposition? Being a structural eng'r, it does seem like you may be talking tosh. No bldg code allows nailed structural timber AFAIK. Even in the UK you are not permitted to use such connections, and we don't live in tornado alley!!!
You wouldn't be trying to prove a point about something about which you clearly know sweet FA would you?:rotfl:In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0 -
The prices are cheap for the same reason you could buy a terraced house in Northern Hell Hole for £x,xxx in the 90s - people want to sell but there are no buyers.
FWIW, the first street that has a house listed on it rather than a building plot had a notorious underage sex scandal on it according to a glance at Google where 11 men were arrested.0 -
FIFY on that one.Answer: Land and fuel were cheap.
I'm with Jonbvn on this one, I suspect you are talking bollards again. Building practice and regulations (Code) vary from State to State. Florida (IIRC) has some rules specifically relating to hurricane protection. The state is also prone to termite damage. However, it doesn't suffer some other problems (there's a town called Frostproof for a reason, although not completely accurateOh, and one more thing... building regs in the US are appalling. Remember florida... all those houses getting flattened? Well if they had used screws instead of nails they would all still be there. But they didn't and the wind got under the porches and just lifted the roofs off pulling the nails clean out, and with no roof holding the side together the rest just collapsed. Thousands of houses blown flat just to save a couple of hundred dollars.
). A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0 -
SN.
Do you have a link to support your supposition? Being a structural eng'r, it does seem like you may be talking tosh. No bldg code allows nailed structural timber AFAIK. Even in the UK you are not permitted to use such connections, and we don't live in tornado alley!!!
You wouldn't be trying to prove a point about something about which you clearly know sweet FA would you?:rotfl:
I'm no expert. Saw something on discovery channel about it. Some people doing research into why the devetation was so bad. They even demonstrated it with a traditionally built house and one done with screws an a few (About $10 IIRC) sleel joint re-inforcing plates.
The one with nails blew down, the one with screws suffered minimal damage.
New building regs are probably stricter but wont apply to the existing buildings built like wendyhouses.Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.0 -
Thos are pre-foreclosure and foreclosure properties.
That isn't the price of the property, it is the outstanding mortgage.
Basically what is being sold is the debt.
You then have to negotiate with the owner/borrower to buy the equity and hence own the property.
Ah I see thank you very much, but could you also end up paying the debt then the full cost or because its been repossed does it then have a smaller than usual asking price?0 -
You would be trying to do a deal based on paying a proportion of the debt would be my guess. Lenders in the US accept "short sales" (the UK doesn't AFAIK) where the lender will take a % of the debt as opposed to the full amount just to settle the account.Ah I see thank you very much, but could you also end up paying the debt then the full cost or because its been repossed does it then have a smaller than usual asking price?A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0 -
Ah I see thank you very much, but could you also end up paying the debt then the full cost or because its been repossed does it then have a smaller than usual asking price?
I don't know anything about the "buying the debt" bit but there are many great (looking) houses for sale at really low (comparativley) prices. 5 bedroom 3 bath with a pool for 150k or thereabouts. If you had the cash and you went there regularly, there are great deals for holiday homes.
Not for investment though ;-)0 -
Why are these houses so cheap? Im assuming there repossessions but can anyone explain why so cheap still please?
http://www.trulia.com/for_sale/Orlando,FL/price;a_sort/15_p/
Cheap? They are hideously overpriced! :eek:
These 3-bed detached houses are only £5k:
http://www.realestateone.com/content/PropertyDetail.asp?listingNumber=e28003835
http://www.realestateone.com/content/PropertyDetail.asp?listingNumber=e28028737
http://www.realestateone.com/content/PropertyDetail.asp?listingNumber=e27217839
http://www.realestateone.com/content/PropertyDetail.asp?listingNumber=e26078137
Over 200 similar properties available in that area.poppy100 -
Cheap? They are hideously overpriced! :eek:
These 3-bed detached houses are only £5k:
http://www.realestateone.com/content/PropertyDetail.asp?listingNumber=e28003835
http://www.realestateone.com/content/PropertyDetail.asp?listingNumber=e28028737
http://www.realestateone.com/content/PropertyDetail.asp?listingNumber=e27217839
http://www.realestateone.com/content/PropertyDetail.asp?listingNumber=e26078137
Over 200 similar properties available in that area.
WOW, What will happen when no one buys and they are the banks? Surely if they cant sell at silly prices, then whats the bank to do with them?0
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