Where I live it is currently above 500,000
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I got my 2 bed, 1 bath a few years ago for 350,000 (as is). Built in the early 1940's, 890 sq-ft (83 sq-m)
I have friend who lives out in the middle of the nowhwere TX, where at the rock bottom of the market, 3 bedroom homes were selling for 25-40k. My thought on this was that I could buy a house for the price of a car
I still believe that real estate is one of the best ways to invest so if a buyer can afford it, it would probably be a great way to go.