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Real Estate in the US what's the catch?

  1. Jan 15, 2009 #1

    JasonRox

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    I like to look around at housing prices for fun... especially now as I might buy a place in my hometown this summer. Although, the market hasn't been hit hard or really at all in Canada so far. Prices haven't moved.

    But in the US... there is this...

    http://www.realtor.com/search/listi...mxp=50000&typ=3F&fhpg=4&lid=1104597088&lsn=39

    To find a house listed at this price in Canada is like impossible unless it was like completely not livable at ALL! The place is being rented at like 3 times the price. What's the catch here? Why don't the people who live there actually buy it?

    Thanks!
     
  2. jcsd
  3. Jan 15, 2009 #2

    mgb_phys

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    Buy it and put it on a truck? (Do you have to pay GST at the border - or do you think you can sneak it in?)

    I suspect Buffalo doesn't have a lot of job or population growth and so there aren't many people moving there looking for a house.
     
  4. Jan 16, 2009 #3

    JasonRox

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    Yes, but the people that live in it are paying the mortgage in itself! Doubling it! Clearly, if they can pay the rent, they can buy it.

    Even in bad areas, houses don't sell for $30k here in Canada.
     
  5. Jan 16, 2009 #4

    jtbell

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    If you study the areas in which those $30K houses are located, you'll probably decide that you wouldn't want to live there, even if someone paid you to do it. US cities have slums and crime-infested areas that Canadian cities don't.
     
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