Come on, most of those houses are either in the middle of nowhere or 'needs updating', 'needs work' and so forth. You can buy houses for <$1k in the US if you go to where they're priced at that, but there's a reason why they're that cheap, and they certainly don't represent anywhere near the usual experience.

Here's a list of properties within 3 miles from Liverpool city centre (well, a 'Zoopla mile' is a bit different) for £40-60k ($62-93). I'm sure many will need updating. There's 300+ on the list

http://www.zoopla.co.uk/for-sale/houses/liverpool-city-centr...

A fair point.

If you buy second-hand you can also easily pick up an Aston for cheaper than a new Tesla S, so say the classifieds. I wouldn't recommend leaving it unattended outside your £40k Liverpool house though. Probably best not to drive it into the estate at all.

Some of the worst estates in the entirety of the UK are around there, though. Do you really want to live in Toxteth? Honestly?