Why is property so cheap in St. Louis

[T Smith]

I’ve been looking at rental property in St. Louis and noticed that there are a lot of properties under 50K. Can anyone tell me what happened to the economy ? Why are there sooooo many empty houses in the city’s poverty stricken areas. Is it a good decision to continue to looking for investment opportunities or pick another area?

[Kyle Eckert]

@T Smith mostly supply and demand.  You could buy whole neighborhoods of North city for a song because almost no investors nor retail buyers are interested. 

There are other parts where investors are doing work, but there is still a lot of inventory out there waiting to be sold/renovated/gentrified.  Parts of South City are like this.

On the flip side, other parts of the city have outrageous values which make no sense at all as investments, but they are still selling that high.