Originally Posted by rowan

The sum value of the fittings from some of those old homes are probably worth a lot more than the purchase price.

The cheapest land I've seen in Australia was a newly developed residential area in a rural town selling serviced blocks for 50c (not much more than a quarter in US currency ) ... but the catch was you had to build within 2 years. It was an attempt to rejuvenate the town, but it also meant that the value of existing properties plummetted, since you could build a better quality home for less than buying an existing one.