and the ones who will lose a good chunk of their retirement funds in the crash - if it comes - will need us to help them rebuild their retirement.Hope this helps...David J Dachtera

Some things are so costly to repair that literally tearing the house down and rebuilding it would be easier.

Insurance companies are increasing rates (cost to insure $100 of property value) AND replacement cost values (cost per sq/ft to rebuild).  

The subdivision I was working in we could save most of the homes, however the subdivision next to us the city told them they would either need to 1) tear down and rebuild 2) raise the home 9 ft even though not in a flood zone 3) walk away from the home and let it go back to the bank.

The replacement cost is how much it would cost to rebuild. 

This is a thought provoking article on plans for Detroit revitalization. http://www.popularmechanics.com/technology/engineering/rebuilding-america/detroit-2025-after-the-recession-a-city-reimagined-13108807

Might be an issue in the future, say when rebuilding after a fire or other damage.The shed is less of an issue. 

The issues with buying a single family in this price range, after you rehab, you are now competing with every developer on the eastern seaboard that does knockdown rebuilds.

John,As an Agent, we use estimating programs to figure how much insurance is needed for the "Replacement Cost" (cost to rebuild). 

Again, i really want to say thank you.Im in the process of rebuilding my credit, so getting things in order are essential.