[finnman69]

Those are frightening examples. Who the hell is dumb enough to buy those homes at those prices?

[ambrose]

Speculators buy crap like that and then rent them out to tenants at a loss... so they can sell it to someone else in a year or two for a profit... and the process repeats itself over and over. That 330k Compton POS wouldn't rent out for more than $1200 a month,.. probably closer to $1000.

[TheDon]

It's the land, not the house, that is so expensive.

[softwarecreator]

Frightening is a good word for it, I was shocked when I saw what $300,000 buys in CA.  In my area that shack would sell for less than $30,000, if it sold at all.

[GOP_1900AD]

Speculators.