The only sensible financial reaction is to save, save, save for a down payment well in excess of 20%. Just an extra 5% will save you roughly $150k On a 600k home over the course of a 30-yr 6.9% mortgage (the current rate).
Problem is that most people will never be able to achieve this - the average down payment for first home buyers is less than 10%.
Truly hate to say it but people will need to get used to buying homes much later in life.
Problem is that most people will never be able to achieve this - the average down payment for first home buyers is less than 10%.
Truly hate to say it but people will need to get used to buying homes much later in life.