A recent Kalamazoo alum bought a house in Kalamazoo for just over 70,000. Kalamazoo must have one of the cheapest housing markets in the country. Back home in Los Angeles, a small home in a bad neighborhood easily goes for 200,000.
I also watched the youtube videos on foreclosure. I found this article talking about how banks are circumventing foreclosure costs by selling houses after they have been seized but before they are entirely foreclosed on. foreclosure article