Quote:
Originally Posted by jammies
Because they don't have enough money to buy?
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According to whom?
As I posted earlier in this thread, I bought my home in 2007 when my wife and I only had enough savings for 10% down. In the ensuing 5+ years, we've never missed a mortgage payment and have even made several lump sum payments directly agains the principal. We'll be living mortgage-free by age 37.
Requiring a 20% downpayment might have been feasible for young couples when prices for starter homes were in the low-mid $100s, but it doesn't work when a basic 2BR home in Calgary sells for $300-350k.