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Welcome to the nepo housing market: 40% of homebuyers under 30 get family money
- jauntywundrkind 3y agoYeah I mean, my parents have a standing offer to give me $10k for a house purchase. I'm thankful, but it's like 1% of the price + fees in my high cost housing market. I think this is a super real & super pertinent topic. But I'd like some threshold here, something more than "get family money." I'm biased but if you're getting a couple percent of the cost, it's not the same. I wouldn't be surprised if like 20% of home buyers under 30 get 20% or more of the cost. That'd be a bit more calibrated, would tell us something much more real.
- Finnucane 3y agoIt may depend on how you're financing the house and how you're getting the money. A bank may limit how much of a downpayment you can get from gift money. Or at least, that was the way it was in 1994.
- Finnucane 3y agoThe article doesn't say if this is more or less than in the past. It's not like this is a new thing. It's always been a thing.
- archo 3y agohttps://archive.is/HxQqJ https://archive.is/HxQqJ