[glabifrons]

I don't buy into that. For one, I've never seen one go that cheap (but then it's been over a year since I looked). Back when I was looking, typical prices for a 50 year old Cessna 150 was >$50k, unless it needs $30k worth of work done to it. Hard to believe they'd drop that much in only a year or so. Beware planes being sold in areas that have flooded (TN, LA) too, as they require tear-down inspections.

Also, to debunk the "they're unsafe" line:

"How Safe Are Amateur-Built/Homebuilt Aircraft?

Studies by FAA and the National Transportation Safety Board (NTSB) show that Amateur-Built/Homebuilt aircraft have an accident rate less than one percentage point higher than the general aviation fleet. In fact, the accident rate for Amateur-Built/homebuilt aircraft is dropping. The total number of registered homebuilt aircraft is increasing by about 1,000 per year, while the total number of accidents has stayed virtually the same. Another good barometer of safety is insurance rates. Companies that insure both homebuilts and production aircraft charge about the same rates for owners of either type of airplane. That indicates a similar level of risk."

http://www.eaa.org/homebuilders/faq.asp

Edit:

"Safety data on experimentals show them slowly approaching accident rates equivalent to those for small factory-made planes. And with some 25,000 experimental aircraft in the FAA's registry and another 1,000 added each year, more amateur-built than factory-built airplanes have been registered during each of the past five years, according to Bob Warner, executive vice president of the Experimental Aircraft Association."

http://www.nbcnews.com/id/3686445/ns/technology_and_science-...

[cpncrunch]

I'm not sure where you're looking, but you'd need to be insane to pay $50k for a 150. Have a look on controller.com and you'll see prices range from about $15k to 30k. You can buy a perfectly safe and flyable 150 with a high-time engine for $15k.

As for accident data: I think the EAA statistic is misleading. I believe they are looking at total number of accidents. However amateur-built planes comprise only 10% of the GA fleet, and their fatal accident rate is 3-4 times that of the rest of the GA fleet per flight hour:

http://www.avweb.com/avwebflash/news/NTSBCompletesHomebuiltS...