“People that have owned for awhile are in great shape, maybe better than ever if they hadn’t taken money out of their homes, but young people are just dazed. They are thinking “timing, timing, timing” like no generation before them.”

Yes, Yes, Yes!!! This is exactly correct. This is why I responded to AN that I didin’t care about people who bought 18 years ago (assuming that they didn’t HELOC themselves into a bad position). They are irrelevent to some degree in this market.

Even though my wife and I make a lot of money relatively speaking we don’t have the equity cushion from having been in the right place at the right time. Any downpayment we have is CASH$$$ savings and you better believe I am gaurding that with my life because of how difficult it is save a lot money in the face of rising inflation and stagnant wages.