Down Payment on Home Out of Reach for Half of U.S., Poll Finds

Forbes reports:

Buying a home usually represents the largest investment most people will ever make. According to the National Foundation for Credit Counseling’s (NFCC) May online survey, that investment could now be out of reach for many.

The NFCC recently asked consumers about their ability to meet the down-payment requirements associated with buying a home in today’s market. Of the more than 2,000 respondents, almost half (49 percent) admitted that they’d never be able to save enough money for a down-payment on a home. This is discouraging news for the housing market in general, lenders, potential buyers, as well as existing homeowners.

An article well worth your time. Another sign that real estate is still overpriced in many parts of the country.