“With your basic livable homes still about $600K or more in Silicon Valley, we found the 15% down payment rumor depressing because it would mean we need about $90K or $100K down payment just to get a loan for a decent Silicon Valley home.”

I am a little confused by your expectations…how can you state that a house is “basic liveable” or a house being “decent” but are depressed that you have to come up with 15% down? Isn’t that what got people into trouble to begin with? Their expectations are bigger than their means. Sorry if this doesn’t apply to you, just tired of people feeling that they are entitled to more than a “decent” house.