The 200+ page mini-book this cover came from lists over 1500 foreclosure auctions happening California the next few weeks, just from USHomeAuction.com alone. Quite a few have starting bids of $500-1,000 for homes that were previously valued at $200,000 or more. They aren’t dumps, not at all. Many are in the semi-arid bedroom communities that sprang up outside major urban areas. The house may have seemed comparatively cheap back then (but the commutes to work were hellish.) Now many of those areas are ghost towns, brand new homes, no people.