The real barrier is fear. Single people and young couples just starting out, say the thing that makes them hold back at first is the fear of making that big decision about such a big outlay of money. But there are many houses out there today, and they come in every price range.
Interest rates are competitive, as well as price tags.
So, if you've even toyed with the idea of homeownership, the time is right. A lot of people who think they have to make a 20-percent down payment never go near the door of a real estate office. Some others often don't know how much money they have to put down. Another approach for people with incomes that qualify them to carry a mortgage, but who don't have much of a down payment, is to apply for loans backed by the U.S. government. An agent may have helpful suggestions such as gift letters from relatives.