Most people can’t afford to put 20% down on their first home anymore. We only did 3.5% on a ~$230k home. If we waited to save up 20% we still wouldn’t have bou

Most people can’t afford to put 20% down on their first home anymore. We only did 3.5% on a ~$230k home. If we waited to save up 20% we still wouldn’t have bought a house because it would have taken several more years and then the home prices jacked up 40% during the pandemic. Instead our home went up in value by that much instead. For your example house they’d have to have saved up $70,000 ahead of time. For people that rent and aren’t in tech that’s not too feasible, especially considering they may have that much in student loans also. I know a couple that managed to do it but they lived (as a married couple) with their parents for several years instead of renting so they could save up for it.