Quote:
Originally Posted by chedder
It is going to be tough but they don't need a 20% down payment. With mortgage insurance you can buy with as little as 5% down. Exactly the same as I did many moons ago.
I think you'll see a lot more condos and row houses as first homes which,in my opinion, is fine. Is that really any worse than my 750 square foot hundred year old dump that I bought as a first home?
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No law against buying a modest place, especially as your first home. Younger people will have to buy within their means just as every previous generation did.