>>23205539>what are the reasons for this?Generally? Housing market falling due to lack of demand, mostly due to people being poorer during an economic downturn but also sometimes due to other factors like your neighborhood going to shit and suddenly not being a desirable place to live (crime rate increase, natural disaster, etc.) or people just moving away from where you live to go elsewhere (mostly happens in smaller towns and rural areas)
Other possible reasons;
- Turns out your foundations / basement / roof / etc. were built poorly and need major reconstruction to continue being safe, or some sort of accident wrecks them as a result.
- You can't maintain the house due to associated costs or labor and the gradual disrepair it falls into hurts the price
- Your home was built in a very specific style that is now out of fashion and anyone who would buy it will need to massively redecorate which affects how much they want to pay (think stuff like 70s houses with carpeted bathrooms, furry walls, fucked up tile patterns, wooden cladding on everything, etc.)
