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Rates are slowly coming down and hovering around 6.6% for a 30-year fixed loan, according toU.S.
While some Midwest markets have remained resilient, others have taken a noticeable hit over the past five years.
The demand simply isnt there in the way it used to be.
Is it a good buy?
If youre looking for affordability, Peoria delivers.
Thats a much bigger gamble, Charlie advised.
Unless youre getting a great deal in a high-demand rental area, tread carefully.
Homicides were up 33% in 2023 and domestic violent crimes have increased, per alocal WREX report.
Economic stagnation and crime concerns have made it difficult for Rockford to attract new buyers, Charlie explained.
While the city has been working on revitalization, progress has been slow.
Investors seeking rental income might find solid returns, but appreciation remains questionable, the expert stated.
If youre looking for long-term value, other markets may offer more stability.
Saginaw, Michigan
Michigan is experiencing a major housing crisis.
The decline in auto manufacturing jobs has taken a lasting toll.
Withfewer job opportunitiesand a shrinking population, demand for housing has remained weak.
Only if youre playing the long game, per Charlie.
While struggling cities can turn around in economic shifts, not every deal is worthy.
If youre looking for short-term appreciation, these may not be your best bets, according to Charlie.
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