Right- I got my house in 96, saved up for two years, drove unbelievable piles of crap, shopped at secondhand stores, didn't go out to movies or dinner, just so I could save $20,000 at a time when I made $40,000/yr.
Even then, I had to settle for an ARM
Refi'd to a 30yr fixed in 05, glad I did even if it did eat up some equity.
But Joe Lugnutinstaller can get a $300,000 home and all that stuff that goes with it 4 years later, no money down. Used to piss me off, now i'm just a-laughin'