EDIT: due to a missing 1/ in the parent I think i was arguing against the opposite of what the parent poster meant to convey, heh. But that doesn't account for

EDIT: due to a missing 1/ in the parent I think i was arguing against the opposite of what the parent poster meant to convey, heh. But that doesn't account for mortgage rates, or competition in down payments right? If you make 5% more inflation adjusted than the person 5 years ago, but mortgage rates are 2x, than you're still way behind right? And if all those who bought starter houses 5 years ago have a ton of equity to drop in the down payment to trade up, you might not even be able to buy a house where you can afford the monthly mortgage payment.