- The U.S. government owns and lists thousands of homes due to foreclosures on federally-backed mortgages, with 2,074 currently available.
- Affordable options exist, including 334 homes under $100,000 across 38 states, 77 under $50,000, and 15 under $25,000, with concentrations in the Rust Belt and rural South.
- An example is a Flint, Michigan house listed for $3,000, sold as-is and requiring significant repairs, illustrating the low end of the market.
- Buyers must purchase through a licensed agent (HUD-registered broker), with owner-occupants often getting priority over investors, and should expect as-is sales with potential liens or back taxes.