Audio Systems: Sound system, cement block, good speakers

Question
QUESTION: I am looking to put a sound system(for playing music, not live) in my basement, below a rancher house roughly 45' x 70', that hosts very large college parties. I am looking to get decent sound. Can you help me?

ANSWER: How high are the ceilings and what are the surfaces (ceiling, floor & walls). What is your budget?

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QUESTION: The ceiling is 7 1/2', the floor is concrete, the walls are cement block. I am looking to spend under $1000 but would rather have your opinion of getting the best sound to accommodate 150-250 people for the lowest cost. Any advice will be greatly appreciated.

Answer
You've got all hard surfaces. Reverberant rooms are tougher to reinforce with sound. A pair of good speakers generally cost upward of $700. Don't use consumer equipment, you'll regret it. One option is to go to a music store like Guitar Center or Sam Ash and look for close outs on older sound gear. MI gear is generally semi pro. The manufacturers that make pro equipment have cheaper lines that sell in those stores. The other option is to look for that type of equipment on Ebay. The systems that I design (for a room that size with those acoustic properties) will easily run 10 times your budget.