I think it's normally condition if people looking for the cheaper when to buy or rent something. That's all rights, but you should still thinking about a quality, service and the other things. Like when you want to choose your web hosting. Many cheap hosting that you can choose for your web. But, the most important thing before you choose it is their performance. You must read about them, like their features, technical and customer service, Reliability & Uptime, and many else.
I have use the cheap web hosting for my Wordpress themes gallery blog. But i got disappointed. It to slow. I have told by my friends that if they come to my blog, it's really slow. Finally, i have move it into the new one. I read web hosting directory first before i decided to use new web hosting. I am looking for people review about that web hosting. I think when people says that it's good, i will not get second disappoint.
Look up for this example, iPage web hosting review. You can find discounts for their hosting as well. You will know and it can give some advice for you to judge that it good or bad for your blog. Finally i just can said, cheap but good. Your blog performance more important than price. You will get a lot of visitor when you can satisfy your visitor. Remember when you have a lot of visitor, it's means you have high traffic. And sure that money will come to you.