@owasco @dbooster I think it has to do with a number of factors, but a big one definitely has to do with the fact that only the land retains its value and the value of buildings goes down to zero after 15 or 20 years. So if you want to buy a 25 year old house on a piece of property that costs $100,000 or more, and it needs new siding and a new roof, which would cost anywhere from $50,000 to $100,000 here depending on the size of the house and the quality of the materials, it makes more sense to just buy a new house for not that much more money.

Plus, the cheapest new houses are built by massive companies that buy land and build all across the country. They operate on such a large scale that they can offer new houses for a price comparable to renovating an old house.

Add to that a culture that doesn’t think I’ll just do it myself, and narrow properties that require scaffolding to give you access to the building, and it’s really difficult to maintain and renovate on your own.