Inflation is a borrowers best friend. The bigger the loan, the better. The theory is you're paying it back with inflated money. Depending on the inflation rate, a home mortgage can make up the interest being paid over the life of the loan. It all depends if the interest rate on the loan itself is low enough, and the inflation rate, along with the appreciation on the home itself, is high enough.
The problem with home mortgages today, is a LOT of areas are set to crash price wise. Places like California, Oregon, and Washington state have very high real estate prices. Along with equally high taxes, (both property, sales, and gas), to support their nanny states. But the jobs are drying up, and people and companies leaving left and right. Sooner or later the bottom has to fall out.
Especially in places like Southern California. Where real estate prices are in the stratosphere. That bubble is ready to burst. Then look out, because it could easily start a chain reaction in places like Illinois and New York. Both are maxed out price wise, and they're underfunded $h!t holes that can't pay their bills.