Many parents have become particularly active in assisting their children with the down payment needed to buy a house and have reasonable monthly mortgage payments.
A recent Intuit Credit Karma report suggests that 38% of Gen Z homeowners said they got financial assistance from their parent(s) to purchase their home. And among those who weren’t yet homeowners, 44% said they planned to get some financial support from their family to make their home-buying dreams a reality.
Corroborating this report, in a recent survey by Redfin, 36% of Gen Zers and Millennials are expecting a cash gift from family members to fund their down payment – twice as many as there were just five years ago.
https://www.newsweek.com/gen-z-financial-assistance-parents-homebuying-1881015