I started watching this one day in a hotel after flipping channels and finding nothing else on. It really is interesting, usually because no one EVER listens to Kristen (the host). They ususally think they know better.
The comedy comes in with the expectations. Its like, "Yes, we will completely transform this house in two weeks with only 1000 dollars." And they really believe that. But then, its like, double, triple the timeline, and at least double the budget. So, it really is kind of a comedy.
I remember one episode I watched recently was where they didn't work on it for two weeks straight and then where amazed when they were behind schedule. or when they kept buying high end appliances and stuff for a small, not-high end community. It was actually too expensive for the community surrounding.