Builders have stopped building because of a glut in unsold inventory.
>Moody's sees home price declines spreading
https://archive.is/43UN4
Hmm, I wonder why no one is purchasing these $500,000 new builds?

Homes are being bought by investment banks, they own over 14 million vacant homes while 700k homeless people sleep in the streets. Abolishing usury solves this problem.

>>510826765 (OP)
What goes on in Illinois?

>>510826893
Investment banks offer cash and can outbid people who actually want to buy homes. They then hold the homes completely empty by force of law.

>>510826946
Illinois is a dump and nobody likes living there.

>>510827061
They hoard empty homes and do not allow anyone to live in them so that a line on a stock chart goes up. Speculation on stocks is also Haram.

>>510826765 (OP)
https://www.zillow.com/homedetails/114-Bodman-St-Milmine-IL-61855/115721366_zpid/?

You forgot to mention it's over a hundred years old, being sold 'as is' and is in absolutely dogshit condition lmao

>>510827637

>>510826765 (OP)
I've been finding good deals on land with like 10 acres for 40k with residential/single family zoning, the issue, you see, is that its all a dream anyway because im poor lol.

>>510827671

Needs to be completely gutted, if it's even actually salvageable as is. Easy $200k in repairs, which is now unaffordable for most people

>>510826946
Well anon, Illinois has beaten the banksters
1) charge a relatively high percentage of property tax
2) investors leave the state, causing property values to fall
3) the relatively high property tax is now just a normal tax amount because the property value is so low
4) investors never return to drive them back up because 1)
For example, the property tax on the 3500 sqft house with 2/3 acre lot is $808
That is extremely reasonable for the same size property in any other state, but it is a large percentage of the $56,000 investment for the Illinois property... $56,000, which is peanuts for the property in any other state as well.
That really upsets these investors and they come to every thread I make to seethe about it.
See, here is one now >>510827637

>>510827336

1. Overthrow zionist Jews
2. Seize and nationalize Wall Street
3. Outlaw usury and forgive all usurious debts
4. Outlaw purchase of residential property by investment entities
5. Release over 10 million vacant homes from private ownership to the market

Properties transferred to debtors, millions of affordable homes that can be purchased with salaries assured by massive nation building initiatives.

Economic growth explodes, good employment and home ownership assured, quality of life rising for future generations.

I have worked in both finance and residential construction and understand exactly what needs to be done. We must take the economy back from zionist Jews.

>>510826765 (OP)
This isnt walkable, i would need a second mortgage for a car and the equivalent of paying rent to pay for the gas and fixes
Why do i need the mechanical power of 60 horses to get out of the house?

>>510827848

Not an investor, lol, I wish I had that kind of money. Just did construction for a long time, and I recognize how much it would cost to be in safe and livable condition

>>510827848
Interesting, cheers anon!

>>510827904

The USA is a Christian nation. I do not want to impose Islamic rule, only to help Christians take the nation back from zionist Jews. The same zionist Jews who did 9/11.

>>510827637
it looks like people were still living there with holes in the ceiling and roof, wtf. Plenty of crack houses where I'm from but this is next level. Must be squatters.

>>510828053
>Just did construction for a long time
Then buy, pick up your trowel, and start plasterin' anon. You're better prepped than anyone to DIY it.

>>510828586

Looks like the description says it used to be a hotel, but definitely agree it looks like it's being squatted in, or was at some point

>>510828667
Oh absolutely, it would be a fun project. But I don't live anywhere near there, and got enough half finished shit already lol

>>510826893
>700k homeless people sleep in the streets
Yes, purely due to the housing market. I'm sure mental illness and drug abuse have no influence whatsoever
>inb4 craclheads need a roof over their heads too

>>510828053
>. Just did construction for a long time
How much money does it take to build a house? I know each is different, so pick some example of a rather typical home in a typical region
break it down by factors such as land, labor, financing interest, etc

>>510828801
It’s a bullshit number anyway, the median number of days a person in America is homeless is 1. The number of people who are “chronically homeless” is only about 150k and of those only about 90k are outside of the shelter system. A far bigger concern is the ratio of renters to homeowners but that makes for less compelling quote-sniping

>>510828815

Sorry anon, way too drunk for that right now, but it depends on a shit ton of factors. The lumber you're using, the size of the house, materials in the build, etc.
for a cheaply built 2 bedroom one bath 1000sqft house at 25' x 40' including a concrete foundation pour, electric and plumbing install just in materials to get it move in ready with no appliances and shit is around $100k-$120k near the oregon-nevada-idaho border. Labor would jack that up another 20-50% depending on how many guys, how much time it takes and all that shit

>>510826765 (OP)
>milmine
I'm pretty sure all the mills and mines that city was named for are long gone and the fact the interior looks like it's been unmaintained for 30+ years it'd make sense.

>>510828692
No, that's just how old homes get when the owners are old people, then they die, then it sits vacant for a few years. I've bought homes in worse condition than that and fixed them up, including the one I'm living in now. Usually it was grandma's house, then the kids used it as a vacation home until it deteriorated to the point that they have to hire a contractor. It's not hard, and it's not expensive if you're not in a rush to get everything done. Have a good foundation and a good roof and the rest can be done at a leisurely pace.

>>510827774
eh, its not that bad. The only real issue would be getting the electric up to code and depending on how this bitch was wired up you may need to redue it. Plumbing probably needs to be looked at as well. If this isnt connected to the sewer system its not worth buying.

Anyway assuming electrical is fine, and plumbing is fine, you just need new dry wall and flooring. The outside needs some serious touch up, roof probably needs to be reinsulated and shingled.
Id guess that cost around 12k for the roof, 5k to re drywall yourself, 5k for flooring if you do it yourself, its honestly not that bad you just need to have no full time job.

>>510829791
>you just need new dry wall
plastering will be much faster, cheaper, and better than tearing out all the walls and drywalling

>>510830012
id do it anyway so i can see what the fuck is going on. Its too old imo

>>510830171
nah, you'll just rip out the lathe and plaster, then pretend you did some great service with your sledge hammer and relist it at 2x what you paid for it. Then 1 yr later, I see it pop up as a foreclosure auction which closes for half what you paid for it to account for all the damage done.

>>510830347
lol what the fuck are you talking about.

>>510830411
Just a process I've watched happen by looking at zillow every day for a couple years now. You boys and your drywall addiction get rekt by the plaster walled beast. By the time you've gutted a good portion of the home, you have no energy or money to continue and want out. But no one is buying your half demoed house. Then you end up walking away, beaten by the strength of the plaster wall. When all you had to do was mix up some plaster in a bucket, pick up your trowel, and patch up a few holes. It could have been so simple, but all you know how to do is dry wall mudding.

>>510828801
Yes mental illness and drug addiction is part of the problem.
However people who have ownership and a chance to own have hope
Without hope the drug use rises.
We could probably solve about 30% of more of the drug crisis if people felt like there was a future worth believing in and affordable homes

>>510826765 (OP)
Looks comfy
>train yard on the back
And it's fucked
Bet the state also makes it worse how would i know