Welcome to the ‘nepo’ housing market: 40% of homebuyers under 30 get family money to cover their down payment
Welcome to the ‘nepo’ housing market: 40% of homebuyers under 30 get family money to cover their down payment
Definitely a trend I see around me (Europe, 30 years old).
All of my friends able to buy got at least 30k - 50k from their parents.
Is it the same around you? How do you deal with this?
Also, some data from a few days back:
https://discuss.tchncs.de/post/2426785?scrollToComments=true
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Have we just got to the point where anyone with a decent relationship with their parents that means that they help them out sometimes is now a "nepo baby".
My parents lent me money for my mortgage deposit but I paid it back to them in installments alongside the mortgage. They only did that as I'd shown over thirty years of life I can be trusted with money and wouldn't flake on the repayments to them, not because we're rich.
Yup, we were the same way. And I'll do the same for my kids.
My parents aren't rich and neither am I, but I do want to help my kids out. I'm going to help them with school to, but I suppose that's nepotism as well to OP.
I wonder what kind of world these people want, everyone thrown out to make their own way at 18?
Ikr? I left home at 18, but my parents helped pay for school (about half), though I still had to work my way through. When I got married, I paid for all of my expenses. When we started growing our family (one kid, second planned), my parents helped me buy a house because mortgage rates were so low and waiting to save would have meant we'd miss out on those rates. We paid them back quickly.
I totally could've done it all myself, but we would've pissed so much more money away on rent and higher interest rates.
I'm now self reliant and am totally willing to help out any siblings, nephews, etc if needed. I was always taught to pay it forward, and that's what I plan to do.