CHARLOTTE — Many people who dream of buying their first home, but feel discouraged, may have good reason.
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Consumer Affairs released a study showing that, on average, someone starting to save for a home in the Carolinas today would be ready to buy in about 15 years.
They based that on saving for a 10% down payment on a median-priced home.
They chose 10% because they say the traditional 20% is no longer realistic for many first-time buyers.
VIDEO: Hope for young homebuyers: Charlotte mom proves it’s still possible to own a home
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