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Welcome to the ‘nepo’ housing market: 40% of homebuyers under 30 get family money to cover their down payment
(archive.ph)
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
I have received $0 from my parents. My grandma helped me buy some furniture when I moved out to my first apartment, and bless her for that. But I cannot comprehend asking for that much money from my parents, not that they would have it to give me anyway. I feel bad when they want to pay for my dinner, let alone $30k+.
Despite that, I have managed to save more than enough saved for a down payment. But with the market the way it is I have no interest in dropping that much money for a house, especially when our landlord hasn't raised the rent for years and we have a good deal. $30k from your parents is a drop in the bucket when you're looking at a huge ass mortgage payment every month. A house would have to be magical as fuck for the amount they are gonna charge per month with the current prices and rates.