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38% of US homebuyers under 30 bought their house with financial help from familymarkets.businessinsider.com/news/stocks/housing-market-outlook-affordable-buyers-homes-house-prices-mortgage-redfin-2023-8
2361 sats \ 8 comments \ @mo 1 Sep 2023 meta
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40 sats \ 3 replies \ @SimpleStacker 1 Sep 2023
Only 38%? I'm actually surprised it isn't higher than that.
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20 sats \ 2 replies \ @k00b 1 Sep 2023
Same.
In the survey, 509 respondents were under 30, and among that cohort, 23% used a cash gift from family, and 21% used inheritance money.
I guess this isn't 44% because these categories aren't mutually exclusive.
That's a tiny sample though and they're asking people to self-report something they might be embarrassed of.
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803 sats \ 1 reply \ @SimpleStacker 1 Sep 2023
Not to mention, I know a lot of people "borrow" from their families, basically interest free loans that they intend to pay back. I would consider this help from family, but it doesn't really fit into either "cash gift" or "inheritance money".
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0 sats \ 0 replies \ @k00b 1 Sep 2023
Good point! They take a "loan" from family.
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30 sats \ 3 replies \ @TheBTCManual 1 Sep 2023
So if your parents/family don't have assets/willing to leverage up for you, you're out of luck in having a roof over your head even though you work and are willing to work and pay back a commitment over 20 years lol and people don't see something wrong with this?
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20 sats \ 1 reply \ @Atreus 1 Sep 2023
There's something wrong with it if you assume people should own property. Not sure people “at the top” make that assumption 🤷‍♂️
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0 sats \ 0 replies \ @mo OP 1 Sep 2023
I totally agree on this global assumption. I’ll discuss the topic of private property in another post
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20 sats \ 0 replies \ @k00b 1 Sep 2023
Blackrock certainly doesn't.
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