In this case, a picture is worth 1000 laughs..
The home is located in Paterson, NJ. The seller is asking $155,000 and states that it’s perfect for a first time homebuyer or investor. Perfect for what? I’m not exactly sure.
So what does $155,000 buy elsewhere? Well, if you were willing to move to the Memphis, TN area, you could purchase this home.
Perhaps a brand new home in Macon, GA is more your style? It’s $100 less than the Paterson home above.
I’d take my chances in any of the towns I posted over that wreck in Paterson any day. Is it any wonder that so many people are leaving this area? I hope this pictures give you some sense of the value of a home. Bubble in North Jersey? What bubble?