It seems to me like the really old shacks need to sell for a substantially reduced price per square foot in order to compete with newer housing. That’s especially true given the fact that those old houses generally only have 1 outdated, functionally obsolete bathroom, not to mention bad electrical, plumbing, insulation.
Most of the remodeling cost is in the bathrooms and kitchen.
People who paid $500,000 for those shacks will be in for a rude awakening.
