h2g2 The Hitchhiker's Guide to the Galaxy: Earth Edition

Ridiculous? That depends. I am going to assume that you meant three hundred thousand, not thirty thousand.

If inflation over the next thirty years averages 3% a year (or more), then it's not ridiculous at all, since your friend will be paying off the loan in dollars that are worth far less than they are today. If inflation stays low, your friend will be the loser, unless he refinances at a lower interest rate.

Anyway, I wish I had heard about that ninety thousand dollar house, since there's nothing that cheap where I live. The average house goes for upwards of three hundred thousand dollars in my area.

Anyway, I think that house prices are pretty insane anyway. They get pushed up whenever the government nudges interest rates down. With less interest to be paid, the seller can ask for more for the actual house. This does not take into account the property taxes that the buyer will be paying, nor the costs of upkeep. I am pretty sure that a lot of people who have bought houses recently will be in serious trouble if the economy goes under and they can't afford to make house payments.

The people who seem to make out the best are the ones who stay put in a house they can afford to live in. "Don't move, improve" makes a lot of sense to me.

You've got the right Idea Mate. I myself personally would buy some land in the country cheaper there put a use mobile home on it an build a house of sorts a round it. whilst at the same time intergrate the trailer in tto the stucture of the house.

That's a pretty good way to keep living costs down.

Well that's what I have a plan to do. People go out and stuff like house need to leave in their budget.
Some leway in case things go wrong that's what I do.

See Mate.