@HamiltonRb: I don't think anyone who has done their homework questions the wisdom of that approach historically. I do wish those who had that method pay off for them financially - and I'm not saying this is you - would make more of an effort to see the lay of the land TODAY. 

I, like GSA, am in my mid-30s. I would happily trade the real estate market of today for the one you participated in at 16% rates because annual price appreciation was nowhere near what it's been for the last decade (plus there was the declining rate environment still to come). So, under those conditions, each year you sacrificed and saved you accumulated a larger % down payment through even a basic savings account. This has not been possible for years.

Also, like GSA, I prize my mobility in this haywire real estate market. And I think more people in places like the GTA or Lower Mainland should fear the fact that so many young lawyers, doctors, etc. can easily leave town with 1 month's notice. Strange days.