Quote:
Originally Posted by Street Pharmacist
If one can only buy their first home with a 20% downpayment, you eliminate the vast majority of new buyers. Guess what then happens to house prices with no new entrants?
That was a fine soapbox to stand on ten years ago, but with the average house price in your market being as high as it is, $60000 is not a sum most can come up with. Kind of a ridiculous expectation
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The point is that maybe if you can't come up with $60,000, you should just rent? If everyone was prudent like this, then prices might actually come down for once.