“I also take sdrealtor’s side on this. First off, most people at those price levels are not first-time buyers, so down payments are not necessarily a huge hurdle (think middle age professionals who have substantial equity in their present house). Getting rid of the present house may actually be more of an issue.”

Why should “getting rid of” a house be an issue? Maybe because it isn’t priced right? It’s harder to move up if you don’t have the equity you think you do.