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Started By
Message
Parents Buying Kids Homes
Posted on 5/25/26 at 12:52 pm
Posted on 5/25/26 at 12:52 pm
WSJ Article- Parents “Assisting” Kids in Buying Homes
Other interesting facts
-26% used family or friends gifts to help purchase a house
As a male in his 30’s who has had friends whose parents have helped I cannot look at them in the same light anymore. Easy button activated.
quote:
Jennifer’s dad, Mark Gross, had a spending limit of $700,000, and one condition: She had to stay within 2 miles of him. The house they closed on last month was $625,000, and an 8-minute bike ride away. The mortgage is in her father’s name, and Jennifer pays him $2,200 a month to cover a portion of the payments. He bought her sister, Jessica Locati, a house nearby a few months earlier, fulfilling their mother’s dying wish that the family live close to each other.”
Other interesting facts
-26% used family or friends gifts to help purchase a house
quote:
Her mother-in-law ended up contributing $155,000 to the four-bedroom they bought for $375,000, keeping their mortgage around $1,900.
As a male in his 30’s who has had friends whose parents have helped I cannot look at them in the same light anymore. Easy button activated.
This post was edited on 5/25/26 at 1:00 pm
72
Posted on 5/25/26 at 12:54 pm to Raging Tiger
This really isn’t knew. Parents have helped with down payments for decades. Maybe it happens more now but prices are much higher.
Posted on 5/25/26 at 12:55 pm to Raging Tiger
I take it you have a problem with this boomer?
Posted on 5/25/26 at 12:56 pm to Raging Tiger
The Baby Boomer generation ruined home ownership. I don't see how kids today will be able to afford a home when they grow up
Posted on 5/25/26 at 1:00 pm to Raging Tiger
If I'm able to do things like this for my children and grandchildren, I will.
What good is wealth if I hoard it? I'll take care of my family first.
What good is wealth if I hoard it? I'll take care of my family first.
Posted on 5/25/26 at 1:00 pm to Raging Tiger
sometimes 50k now is better than 100k later. this can be one of those times.
This post was edited on 5/25/26 at 1:05 pm
Posted on 5/25/26 at 1:00 pm to Raging Tiger
That’s awesome. Isn’t the goal for each generation to be able to provide your kids a little better than your parents did for you? So each generation grows.
So if the parents have achieved wealth and are able to give their kids a step up, then that’s amazing.
The only people who have problems with this are the ones that like to brag about doing it all on their own and “their parents never gave them nothing!”
As long as the kid is thankful and recognizes the sacrifices the parents made to get them there, then I have no issue with this.
So if the parents have achieved wealth and are able to give their kids a step up, then that’s amazing.
The only people who have problems with this are the ones that like to brag about doing it all on their own and “their parents never gave them nothing!”
As long as the kid is thankful and recognizes the sacrifices the parents made to get them there, then I have no issue with this.
Posted on 5/25/26 at 1:02 pm to SixthAndBarone
quote:
Isn’t the goal for each generation to be able to provide your kids a little better than your parents did for you?
Someone must have forgotten to tell the boomers.
Posted on 5/25/26 at 1:02 pm to Raging Tiger
Jealous I am
Posted on 5/25/26 at 1:02 pm to Raging Tiger
"Gifts" often come with strings attached. Once you rely on people (even family) for assistance, they often feel they have a right to dictate some things.
I don't ever want anything from anyone, because I will never be or feel indebted to anyone.
I don't ever want anything from anyone, because I will never be or feel indebted to anyone.
Posted on 5/25/26 at 1:03 pm to Raging Tiger
quote:Oh no the horror. Everyone should have it just as hard as I did
As a male in his 30’s who has had friends whose parents have helped I cannot look at them in the same light anymore. Easy button activated.
Not sure why that would upset you at all
Posted on 5/25/26 at 1:03 pm to Raging Tiger
Parents have always helped kids with buying a house.
Down-payment assistance or closing cost assistance was very frequent 25 years ago when I was doing mortgages.
FHA requires 3% down. Portions of that have been subsidized by family for years.
Down-payment assistance or closing cost assistance was very frequent 25 years ago when I was doing mortgages.
FHA requires 3% down. Portions of that have been subsidized by family for years.
Posted on 5/25/26 at 1:04 pm to Raging Tiger
quote:
As a male in his 30’s who has had friends whose parents have helped I cannot look at them in the same light anymore. Easy button activated.
You sound like a little count.
Posted on 5/25/26 at 1:04 pm to Raging Tiger
Congrats for being a male in your 30’s and thinking you are better than other people solely because they have generous parents who wish to all live close to each other I guess?
Weird flex, Raging Tiger fits the bill though
Weird flex, Raging Tiger fits the bill though
Posted on 5/25/26 at 1:04 pm to Btrtigerfan
quote:
If I'm able to do things like this for my children and grandchildren, I will.
What good is wealth if I hoard it? I'll take care of my family first.
Yep.
Posted on 5/25/26 at 1:05 pm to Btrtigerfan
quote:
If I'm able to do things like this for my children and grandchildren, I will.
same
Posted on 5/25/26 at 1:08 pm to Mo Jeaux
My dad gave us the down payment for our first house as a wedding gift.
We went to Vegas and eloped rather than having a big wedding, and he said he was planning on helping with that cost, but he didn't need to so he just gave us the money to use for the house.
I didn't ask for it, but I sure accepted it at 27 years old
We went to Vegas and eloped rather than having a big wedding, and he said he was planning on helping with that cost, but he didn't need to so he just gave us the money to use for the house.
I didn't ask for it, but I sure accepted it at 27 years old
Posted on 5/25/26 at 1:09 pm to Raging Tiger
I hope I can help my kids buy their first homes some day. I’m taking the steps to set us up financially to eventually have that ability
Posted on 5/25/26 at 1:09 pm to Raging Tiger
I don’t really have a problem with this if the parents are able to afford it. I just consider it another “level” of help. Some kids don’t know how much some of this stuff can put them ahead though. I relate it to how some people graduate college with no student loans and a relatively new paid off car. It’s a pretty big advantage compared to those that graduate with $35k worth of debt and a car that might not last but a few more years.
Posted on 5/25/26 at 1:11 pm to Raging Tiger
I don't have those types of parents, in-laws or family.
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