I read that average d/p is something like 22%. Obama’s pet stooge, Mel Watt, is trying to change that (at least for Fannie/Freddie) but changes are slow and incremental. Hopefully the GOP congress will do their best to obstruct and retard.
There’s no reason why it should change. People without skin in the game will find is easier to walk away, and if you buy at 3% down, you’re close to being underwater from day 1. 20% down was the standard till the 90s(?). It was also the de-facto standard in jurisdictions that didn’t bubble up or down much. Read: Texas, under their homestead act, and NYC apartment buildings.
