Hacker News Reader

Not to mention the likely minimum 20% down payment of ~135,000 (20% of the median 679,800).

Yep. Almost everyone I know who has bought in the Bay Area (including myself) has gotten help from relatives to come up with the down payment.

Nowadays, you pretty much need all cash to have a chance at a decent place; money is flowing in from China and investment firms like Blackrock, who are buying up all the properties they can get and turning them into rentals.

I'd also say that 20% down on a first home is also rare. Interest rates are low enough that PMI isn't a deal breaker, and salaries are high enough to make it easy to qualify with 10%.

By definition, half of all homes cost less than the median. Where do you get from there to a "minimum" down payment of $135k?

> By definition, half of all homes cost less than the median.

That's not what median means

I think mean means what you think median means. Known what I mean?

Reply on news.ycombinator.com