Houses at $7000 (seven thousand Dollars)

The cost of a house can never drop below construction cost right?

Right?

http://finance.yahoo.com/news/At-foreclosure-auctions-rb-853906128.html?x=0&.v=1

We’re having a difficult day,” said Tom Atkins of Zetabid, the company holding the auction. “There was a $1,000 property that no one bid on. You’d think a slum lord at the very least would buy it and put a (federal housing assistance voucher) renter in there for $600 a month.”

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