Classic MSM mis-reporting
(www.cbsnews.com)
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We built in 1991. We had a 10 % down payment. We had saved and bought property to satisfy that. Our interest rate was 8.5% but we had to carry PMI insurance for the first couple of years. We only thought we had it good. I would never borrow under those conditions again but we were young and dumb.
Those were the conditions from the Carter years with rates of 22% to the mid 90's when they came down to the 7+% rates. Many people didn't buy in those years and later felt left out because they had no home equity to buy the next home. Young adults today claim that Boomers had some advantage that they don't have in this generation.