"The Housing Market Has Gone Crazy"... Americans Starving for Homes Say "Even Haunted Houses Are Welcome"

Interior view of a haunted house listed for sale in the United States. Photo by CNN capture

[Asia Economy Reporter Seoyoung Kwon] A haunted house in the United States, so notorious it is called the 'House from Hell,' has been listed for about $600,000 (approximately 680 million KRW), stirring up the local housing market.

On the 18th (local time), CNN and other media reported that Falcon Property Company, a real estate agency in Colorado Springs, Colorado, put a house, essentially a 'horror house,' on the market as a test. This appears to be a phenomenon caused by the surge in housing demand across the U.S., which has driven up home prices.

The house on the market had one tenant living there for 10 years until 2019. However, after failing to pay rent and being evicted, the tenant reportedly vandalized the house in retaliation. The interior is stained with black spray paint graffiti throughout. Additionally, with the electricity cut off, the basement freezer, filled with rotting meat, began to emit a severe stench, and bones of dead animals were also found. It is said that the odor is so strong that it is difficult to enter the house without a mask.

Subsequently, the original homeowner faced foreclosure in February last year after failing to repay the mortgage. After the foreclosure was postponed due to the impact of COVID-19, he attempted to repair the house but failed, and eventually entrusted the real estate agency to list the haunted house as is on the market. The real estate sales site Redfin described this house as "every homeowner's nightmare."

However, this 'haunted house' attracted much attention after being listed. Rumors spread that it could be an investment opportunity. Since the surrounding homes are generally priced between $750,000 and $800,000, and the house has a sturdy frame and good views, many buyers interested in renovating and reselling at a higher price emerged. According to the agency, there is even someone willing to pay $620,000 in cash without seeing the house. But the agency emphasized, "You must come and smell it yourself," and stated they would reject investment offers without an in-person inspection.

The local economic media Market Insider reported, "This phenomenon is happening across the U.S. housing market." They explained, "Investors are hungry for any kind of home. Even haunted houses are considered a windfall," and analyzed that "due to skyrocketing housing demand and low mortgage rates, buyers are skipping house viewings and trying to buy homes with cash."