As a former homebuilder that fell victim to the  collapse I will be watching the dollar much more closely this time around.  

Or is it just a matter of time before the metaverse market collapses?

I did drive past the area just now and I saw things I didn't like like houses with collapsed roofs and other unsightly landmarks, so it could explain the price a bit.

I got my first job in the fall of 2008 and then I witnessed the country collapse before my eyes. 

And the vacations that were put on hold will finally happen, boosting hotels and theme parks.Despite the fact that the coronavirus has had an economic impact on the homes of millions of United States citizens, there are actually many reasons why we will not see an increase in the number of foreclosures as we did during the collapse of the home more than ten years ago.

And of course he couldn't sell it.The garage collapsed (termites) and the owner got a BIG code violations fine from the city.He was desperate to get rid of it.

Meaning if OP buys said purchase option for $3500, and then discovers a collapsing foundation, she doesn't get that $3500 back?

I also spent three years as as a loan officer until the mortgage industry collapsed in 2007.I recent years I have been in the residential and commercial remodeling business. 

I'd be much more concerned about things like crumbling foundations, buried underground oil tanks, weird/illegal/collapsing extensions, etc.

Granted, built in 1875 is older than most but if it has stood this long I doubt it will collapse in the next ten years.I'd buy it if the numbers were right.