Yes, based on my own experience and that of my peers, I think it's very plausible that you would have accumulated savings to get you 20% down on a $1MM place ov

Yes, based on my own experience and that of my peers, I think it's very plausible that you would have accumulated savings to get you 20% down on a $1MM place over the course of (say) spending the last six to eight years in San Francisco with household income in the 150 to 200k range. You might have to make a tradeoff of (eg) not maxing your 401k contributions if you're on the lower end. I mean, we're talking probably about saving $20k/yr when you factor in compounded returns from (eg) the S&P500. I agree that this math does _not_ work as well if you're moving to San Francisco and already have a family but no preexisting savings, so don't do that. It's also true that if you rely on financing you will get outbid on some houses. But I know plenty of people who've successfully bought using financing.