Earlier this week I read an article that stated, basically, that if I want to buy a house I will need the full 20% for a down payment. In Houston, for an average priced house, that means I need $50,000.
Wow, that’s a lot of money.
The article also stated that for an average person, it will take 10 years to save up that money. Ten years… sounds right.
It’s a depressing thought.
How long would it take you to save $50,000?