I also live in a somewhat warped housing market and I've seen the same thing. If someone needs to save intensely (i.e. 1/2 salary) for over a year to pay 10% do

I also live in a somewhat warped housing market and I've seen the same thing. If someone needs to save intensely (i.e. 1/2 salary) for over a year to pay 10% down on a place they find acceptable, it will probably take them a long time to pay it off as well. It is still a money problem but really more of a mix of housing market + personal preferences.