Hello sir and happy holidays! The answer to your question is yes. I work with foreigner's everyday buying and selling property in the Metro Detroit area. You would be wise to make such a purchase at this time in the market. Please allow me my two cents; I would advise you to work with an agent/investor who can guide you through the process of creating a business entity (Limited Liability Company) for you to make this purchase with. You want to protect yourself by never making a purchase of property in your own name. You should also consider your end strategy. Living in a condo is fun, I did when I was in school, but it is traditionally difficult to sell afterwards. I would advise a single family home that you could easily sell or rent out for cash-flow after your studies. In either event, congratulations on a wise decision and good luck with it. If you need assistance, don't hesitate to give me a call and/or email.
To your success, in business and life!