Quote:
Originally Posted by chemgear
Not sure, like I mentioned in the 2010 post in this thread, it wasn't something I was able to cross reference very well at the time. That being said, I have a hard time believing that in 2003, the average person (including the many first time buyers) was buying a house with 50% down in cash.
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The way you interpreted it in your most recent post doesn't make sense. The math simply doesn't work. I'm not going to go digging back for your original post to see what you said then.
That said, your question about 2003 makes sense and I wondered the exact same thing. Unless in 2003 the majority of new purchasers were putting 25% down. Likely in that case the people who were selling those houses and moving somewhere were possibility putting down a large portion. I know my mom bought her house in 07 with 84% down. I'll likely live in 2 more houses before I'm 58 and I doubt my third purcahse will be less than 50% down. My next house I plan on buying 35% down.
What the graph probably shows is that in 2003 the purchases were likely a nice distribution between new home buyeres and second and third time buyers. Whereas closer to the end of the graph it's all the new home buyers that bought up and drove up the market and were buying with 5% down. .