Cheapest city to buy a house. Starter homes selling for less than $50,000.
Cheapest city to buy a house. Starter homes selling for less than $50,000.
Houses in many cities across America are now selling for less than $50,000. Particularly in a city like West Frankfort, IL, which is the cheapest city to buy a house in America.
Homes for sale in this area typically go for anywhere from $50,000 to $100,000. Even for a 3 bedroom. The reason home prices are so cheap here in Illinois is because…
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So what's better…
To live in an economically depressed town with no growth, but where houses and rents are cheap?
Or to live in a boomtown that's growing fast, but where home prices are in a bubble. And regular people can't afford to live?
I've been thinking a lot about this question since filming this video. Particularly from the perspective of someone who might work at McDonald's. Or another entry-level service job. The growth orientation of a city like Nashville doesn't really offer much upside for service workers. So one ends up just spending lots of money to live without real upside.
Meanwhile – someone working at McDonald's in West Frankfort, IL actually makes more than the someone working at McDonald's in Nashville. And can afford to buy a house. Granted – in a less desirable city.
Curious what everyone else thinks about this topic. I'm probably not moving to West Frankfort any time soon. But the area pleasantly surprised me.
I hate how I looked for "when will houses" be affordable because I don't want to be nickel and dimed by a landlord. A House is a place to live, not a hedge fund.
But he made this video with the perspective to turn this into a low barrier to entry hedge fund talking about "there's vacant houses, so that should lower property value" I'm like "good, I want to pay low property taxes. I want a cheap place to live, not a hedge fund".
Take 50k to 3rd world and build a mansion. Thank me later.
Are there any places where the homes are cheap and the area is decent (ex: average to below average crime, and decent economy)
let me guess: too far away from services and etc…..
Anyone recommend if moving from California working remotely? Thank you
fuck illinois theres a reason its so cheap
You keep voting Democrat you'll be renting for the rest of your life while the cherished illegal Invaders get free housing compliments of the Democrat Nazi party enjoy your life
Fuck IL I wanna live in CA
I worked at McDonalds and a person can't make a living working for fast food because when the restaurant isn't busy, the manager will send the non essential help home, which you won't get a 40 hour a week paycheck.
Im in Ohio by the way. Heck I bought 2 commecial front properties in one building for $55k shes worth $250k now days its only 5500 sq ft. Its my man cave. I grew up poor now I have so much stuff that it takes the fun outta having stuff. Its easy people once you hop over the bubble Good luck guys its awesome being debt free. Im 47 and retired ish now days.
I bought a house for $38k in 2014 now shes worth $128k 4 bd 2 bath and I get $1k a month for rent. Got another one paid $28k 3 bed 1 bath its worth $76k. get $850 for rent. Got another one for $38k shes worth $225k. Got another one for $72k shes worth 149k shes a rental 6 bd 3 bath duplex $1750 on rent. I have more than this its easy st once get foot in door Im debt free thats the key to success and help people out along the way if you to greedy you will lose. Nice vid!!
In MN McDonald's is saying $17/hr
Great place to raise pit bulls!
I am getting rid of house in California. Is this neighborhood recommended for reasonable living? How about crime ?
I've been watching the housing market closely, Prices have been skyrocketing for years. It's going to be tough for first-time buyers to enter the market." how can one diversify $280k reserve .
if only my job was remote
yes the price won't go down but you also can't find a buyer and everyone owns their own home there so you can't rent it out. You are essentially paying 50k for $0
That isn't true most houses that low banks dont take on loans.. They want like 65k at the lowest
MiGHt be a good place to retire
In Sydney Australia most houses are 20 times your yearly income. CA at 10 times your yearly income seems like a bargain.
I would live there with bullet proof windows, concrete walls and steel doors. Will also be armed to the teeth.
Cold ❄️❄️❄️ weather too 😂
This is the case in Ohio, Pennsylvania, West Virginia, Virgina ,Michigan, ky and il. I was homeless for years if someone told me 25k in cash buys you a decent house somewhere it would have changed a lot for me. I'm currently looking for a house have to be careful to avoid anything too far out of major cities unless you work from home.
A lot of parts in Flint Michigan are just like thart neighborhood and home prices.
Come check it out
You can get them even cheaper than that if you buy them through the county land bank authority.
There are land banks in many parts of the country
I hope this will start happening people will move to cheaper places and help revive the cities and neighborhoods
Illinois is a Democrat Party blue state and like the rest of states that are losing people are losing people for the same reason . High crime, drugs, Homelessness, and of course Democrat policies which historically destroy those states .
With remote work, a community like that could rebounce. If you have a decent hourly rate you can save a lot of money.
Cheap because of crime too lol Illinois
You couldn’t pay me 100,000 cash and a free 50,000$ house to live in Illinois
Never knew homes were so cheap in ILLINOIS
Given the prevailing economic conditions, investing in real estate might not offer optimal returns. I've recently sold my property in the Boca Grande area and intend to allocate approximately $200,000 towards stocks. Despite the challenges, there's potential for profit in the stock market. Any suggestions for promising stock investments?
It doesnt matter how low the price tag is. After the real estate and school taxes are added, you are going to pay double the amount of the loan. Then you can add homeowners insurance on top of that. No one is going to pay 300.00 a month for a house. Sorry to be the dream crushing voice of reality.😢
I lived in Southern Illinois, it is good for family and more Christian, conservative area. There is barely pop music, rap, r&b and gospel stations and tornadoes. Plus West Frankfurt has a reputation of not being the best. Carbondale, Marion and Murphysboro is good. Desoto and DuQuion is good too. Only thing that is bad is the tornadoes, I don't know how many times I scared due to tornado warnings and sirens going off
I'm hoping there will be a housing crisis so I can buy cheaply when I sell a few houses in 2025. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?
The whole neighborhood will be economically challenged.
but what's the internet speed in that neighborhood?
It's Cheaper for a reason, no jobs… 😆😆😆😆😆😆😆😆😆😆😆😆😆😆😆😆😆😆
Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.
Pre-pandemic there were plenty of neighborhoods like this one.
I would care about are the people friendly are there community events and resources.
Sounds like a good area for people on a fixed income.
There are many impoverished areas throughout the USA with old (typically in need of major repairs) homes just as cheap and as this location. Most importantly: relative to Illinois, West Frankfort has a crime rate that is HIGHER than 94% of the state's cities and towns of all sizes. Importantly, when you compare West Frankfort to other communities of similar population, then West Frankfort crime rate (violent and property crimes combined) is quite a bit higher than average, and is considerably higher than the national average across all communities in America from the largest to the smallest. This area has extensive flooding history.
Yea, local guide here y’all. “Economically depressed” means “riddled with crime.” Don’t move there.
Move there and find out why.
This Housing market collapse might end up being a part of us for a very long time. With inflation currently at about 9%, my primary concern is how to maximize my savings/retirement fund of about $300k which has been sitting duck since forever with zero to no gains.
I bet the neighbors will steal from you and poison your watchdog.
If you and your spouse both work remotely, live here for two or three years and save a lot of money up, you'd be setting yourselves up well for your next chapter.
Oh sure , and maybe your neighbor is an illegal or Cartel or terrorists simce Biden made illegals legal.. start with N.Y. and coming across America sooner or later! Then honest citizens have to pay more taxes for every crazy mess!! 🤐🤐🤐🤐🤐
Wow! I live in Marion. I am subscribed and freaked when I heard you bring up my area. I wish I knew you were coming here. any other questions, ask away.
You should be in Milwaukee checking out house sell for just a dollar. And if you have a house on an empty land you can buy that too as long as you gonna make it useful to it