Agreed, but it's that way for a purpose no? Maybe not a whole 20%, but enough of a buffer so that you won't be underwater on a mortgage in a down housing market.
I don't mean to comment about how much a down payment should or shouldn't be, but that affording a house takes more than just money coming in (i.e. a good salary). You also need savings. This makes it hard for a lot of first time house buyers, and I think especially, young people, to buy.
Hopefully, you can save at a rate higher than the rate at which the down payment increases due to house prices generally going up.
Hopefully, you can save at a rate higher than the rate at which the down payment increases due to house prices generally going up.