What's the deal with so many US houses being sold for even less than $1. They had some dodgy daily current affairs TV show the other day interviewing some Australians who had bought up several US houses foe less than a dollar each and were now APPARENTLY raking it in renting them out for up to $1000 a month. This sounded so dodgy - if they were able to rent them out then why were there no US buyers? Of course everyone seems to love telling other people how well they are doing even when they aren't!

Property taxes in most of the US are against the property, not the owner. If you buy property and taxes weren't paid, you now owe the taxes...

And it's worth asking how much it cost in repairs to get that house to the point where it was legal to rent.

And if the house is in Detroit the last laugh may be by the seller...

Note that Canada is heading in this direction as well.