(I will add that we got some money from my mother-in-law to get up to a 10% down payment. Less than $10K, I think.)
the problem is inflated asset prices combined with low wage growth combined with high interest rates. now i have some avocado on toast to finish
Plus dropping interest rates also does cause economies to overheat so there is job creation.
How much was the house and how much do they sell for in your area now ?(approximately)
We bought within a year of the market peak, and it was ten or more years before the prices returned to what they had been. At one point early in those years, my sister-in-law, in for a visit, remarked that a lot of the for-sale signs looked familiar from her previous visit. (Around a year.)