Yes, there are bargains to be found, you just have to be patient.
Every 'housing-bubble' will eventually burst.
The first
'real' house I bought was 3 years old, 1350sqft, 3br/2bath, vaulted ceilings, wall-to-wall carpet, 2-car attached garage, fireplace, for $30K.
Considering what I was paying for apartment rent, I lived there for 3 years, rent-free, and pocketed $11K when I sold it
.
Yes, I will confess to living in a
'mobile-home' with an add-on when I was young and just starting out.
Bought it and the half-acre it sat on for $5k. Made money when I sold it too.