One thing that is a testament to though is the lack of buildable land in the Portland Market and how fractionalized the ownerships are.. hard to get any real velocity when there are no large ( or very few) large tracts that can be developed in that market.  

It's the equity capture that moves the needle enough to matter.Down payments won't change much, but having equity sooner will accelerate the velocity of your dry powder. 

One consideration is the velocity of your money. 

We look at current inventory trends, this does not tell us when BUT it does tell us velocity, direction, and magnitude or easier said VECTORING.

Quote from @Jonathan Stone: @Jay HinrichsGuess all those velocity banking gurus are going to be mad about their HELOC being frozen.  

Don't we all need to be out spending furiously (money velocity) for inflation to be a thing?

Velocity of money is the primary factor, and that might be coming to a hard stop. 

No of course not, the magnum charge of the .357 gives it a much higher velocity and propels the bullet through the wall and out the back side, so that's two holes.

What @Joe Villeneuve was referring to here is really the velocity of money; you're taking liquid assets and concreting them into hard assets.

The question really is: if you have $500k would you want the velocity of that money to increase marginally or increase at an explosive rate?