30 Percent Down Payment: The New Normal?

Rob Hahn
30 percent down payment
30 percent down payment

I've always been fond of news stories that are neither new nor particularly unknown, like when some local TV station runs a human-interest story on some local teen who organized a charity drive three months ago. They're cute!

And they're no less cute when the Wall Street Journal runs such stories, as it did recently, reporting that banks are requiring larger down payments to buy a home, as much as 30 percent of the purchase price.

Real estate and mortgage professionals everywhere read that and said, "Hey, welcome to the way things have been for the last three years, Wall Street Journal!"