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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)

submitted 1 year ago* (last edited 1 year ago) by [email protected] to c/[email protected]

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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:

omg

https://discuss.tchncs.de/post/2426785?scrollToComments=true

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[–] [email protected] 0 points 1 year ago* (last edited 1 year ago) (1 children)

== Edit: the below is untrue ==

In the UK you have to state where the money came from, so there's only a limited amount your family can help.

Can't threaten the landlords!

[–] [email protected] 5 points 1 year ago (1 children)

What? There is no limit on the size of funds that can be gifted to help buy a house in the UK. If your family wants to bung you £500k of their own money there's nothing stopping them.

The requirement to demonstrate proof of funds for that money is to prevent money laundering.

[–] [email protected] 2 points 1 year ago (1 children)

Someone lied to me.. thanks for the correction

[–] [email protected] 2 points 1 year ago

No problem. There's a lot of confusing stuff surrounding homebuying.