4 ms·
> My wife and I are covering the mortgage for a house on which my mother placed a seven-figure down payment Oh, okay.
by namuol 3y ago
> My wife and I are covering the mortgage for a house on which my mother placed a seven-figure down payment
Oh, okay.
- blitzar 3y agoMultigenerational Wealth Often Makes Sense. That Doesn't Make It Easy.
- bombcar 3y agoI've read articles in the New Yorker that are literally just this. Woe is me, being rich is super hard!
- dbetteridge 3y agoTo be fair in Canada that might just be a duplex
- namuol 3y agoMaybe it’s just me, but I suspect most Canadians don’t have parents with seven figures laying around.
- rrr_oh_man 3y agoNice catch!
- dang 3y agoPlease don't do this here.
- namuol 3y agoGood call. Let me say what I really mean: What’s missing from the content of the article is just how unobtainable housing is, broadly speaking, and how this is impacting the choices families make. A multigenerational house that can actually accommodate multiple generations of people is both rare and prohibitively expensive. Developing new housing for this purpose is usually illegal where most “nuclear families” live. As difficult as it can be to live with your parents in a society where this is unusual, it’s simply not possible for the people who would benefit from it the most. I thought that might be relevant.