The question says it all...........what do you think?? Personally i spotted some rather large properties in Detroit for less than $5,000. Interesting......... Do you know of any better deals anywhere??
There's a guy on flickr that has some fantastic photos of abandoned housed in Detroit. Some of them look really beautiful. If I was in the US, I'd be buying them block by block. I think it's really sad that buildings like this are being left to rot, and will probably end up being demolished.
There's large chunks of the world that aren't officially owned by anybody. You can turn up somewhere like Mauritania or Mali and throw a house made up of corrugated iron up for virtually nothing, if you don't mind having no access to water (a bit of an issue in the Sahara) and risk the possibility of having it eaten up by dunes. There's probably places in the Russian Far East, Greenland, Canada, etc. that are equally cheap and easy to get land. They just happen to be very remote.