I looked up to the $50K range and it was either lots/land or single wide trailers or houses, all in bad neighborhoods and/or well out of the city limits. I have driven through some of these neighborhoods in the day time but was very uncomfortable for my safety. I certainly would not want to drive through them or live in them at night! I even tried 2 different zip codes, our previous zip code and the one we have lived in the last 2+years. I would be in desperate straits to live there.
The houses I did find were very small as well. Usually 2 bedroom with 1 bath and less than 1000 sq. feet. From the photos I saw online, they looked like they needed lots of work. So they may cost a little but it looks like they would need plenty $$ to bring them to code, get them painted (some had badly peeling paint), fix/replace windows, etc. Our house we bought when we moved here in 2000 had more square footage than the ones I saw online. Now we get payday loans in llinois (Chicago) it take few minutes! Years ago in the early 90’s we lived in a 500 sq. ft. apartment. We knew it was temporary so we made it work … we were both students and it was on campus. They had recently been renovated and were pretty okay for student housing at that time. So we have lived in and with less. We know we could do it again if we had to but, of course, would prefer not to.
Our area in south Louisiana has not been hit as hard by the economic down turn since 2008. We have friends who are in the real estate business, he is a broker and his wife is an agent. He deals primarily in commercial and she in residential. They are BUSY, ALL THE TIME, with showings, sales and closings. We have lived in this community since 2000 and building has not slowed one bit in residential or commercial. Not being hit hard economically is the reason housing costs have continued to go up. The house we bought in 2000 … it’s value almost doubled in value between 2000 and 2011.