home can depreciate in value?
I'm considering to buy a property but I wanted to know if a home can depreciate in value? Thanks! :)
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Yes, it can
Can you state some factors please? Thanks a lot for your help.
High foreclosures in the surrounding area
Population decline in the city
Lack of upkeep
Increasing street crimes / new factory 3 miles away / etc
Housing bubble (2008)
Economic downturn (less demand for houses as residents move elsewhere)
That was very helpful. Thanks a lot.
You've heard of the $1 houses in Detroit, right?
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