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re: Parents Buying Kids Homes
Posted on 5/26/26 at 6:52 am to Raging Tiger
Posted on 5/26/26 at 6:52 am 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.
Jealous much?
0
Posted on 5/26/26 at 7:02 am to dat yat
quote:
Exactly. I worked my arse off for my 1st car, my 1st house and, my 3rd house and my 1st timberland.
If you "help" by coddling children and paying the downpayment... you deprive them of the experience of getting it done on their own. It may make YOU feel good as a parent, but it psychologically affects them for life.
Yep. There's a fine line between helping and enabling. Outright giving early in life is probably a bad idea.
With our kids I told them I would match every dollar with a dollar to buy a car. They still had to work, experience delayed gratification, and be disciplined with their money to earn their driving privileges. It worked out decently well. They learned the value of savings. Well, one did. The other not so much, but it's primarily her husband who chews through money like a praying mantis on fresh leaves. They both own their own homes, but Mrs. praying mantis lives paycheck to paycheck surrounded by their four wheelers, side by sides and assorted other impulse buy toys.
The best thing that could happen to home prices would be lower interest rates.
Posted on 5/26/26 at 7:18 am to T1gerNate
quote:
boomer
I found the pathetic loser.
They are easy to spot as they congregate in these threads.
Those labels gonna gitcha’ boy!
Posted on 5/26/26 at 7:24 am to Mizz-SEC
quote:
Yep. There's a fine line between helping and enabling.
I don't think its a fine line at all. I think most people can easily distinguish enabling vs helping.
Enabling is continually funding bad decisions, whether personal or financial, while helping is something like a one time "gift", such as paying for the down payment of a first home.
My parents gave me the down payment for my first home. It wasn't a huge sum, but it certainly helped. It helped us get into a nicer home than we could have otherwise afforded.
And that was it. A little bump to get me and my wife started on our lives.
If that is considered "coddling" or "enabling", then I think some of y'all have some warped perspectives on life.
Posted on 5/26/26 at 7:25 am to kywildcatfanone
People that blame boomers for the financial ills of the country are very likely to vote Democrat.
They blame a generation of people for SSI who didn't even start SSI, weren't given the opportunity to end SSI, or to vote to extend social and economic welfare. SSI was started under Hoover and extended under Johnson, and even Bush's attempt to reign it in was shot down.
They blame a generation of people for SSI who didn't even start SSI, weren't given the opportunity to end SSI, or to vote to extend social and economic welfare. SSI was started under Hoover and extended under Johnson, and even Bush's attempt to reign it in was shot down.
Posted on 5/26/26 at 7:30 am to ChatGPT of LA
quote:
I have 3 houses.
That one is owner financed and money comes from accounts bearing her name. There's other things in play.
None of that has anything to do with you fricking up the deal lol.
You said you put it in her name so she gets it at death tax free. By doing it that way you fricked her on taxes lol.
Posted on 5/26/26 at 7:32 am to fallguy_1978
quote:
We also didn't grow up with houses being 6x annual income, or at least I didn't.
Same
Posted on 5/26/26 at 7:47 am to JohnnyKilroy
It's complicated.
If his estate is over the threshold, he can put ithe house in a trust now for het thus making it exempt from the estate and not counting against the 16M, or whatever it is now.
There's more to it, but Im not an estate attorney.
If his estate is over the threshold, he can put ithe house in a trust now for het thus making it exempt from the estate and not counting against the 16M, or whatever it is now.
There's more to it, but Im not an estate attorney.
Posted on 5/26/26 at 7:55 am to Ramblin Wreck
quote:
I’m not a boomer but would like to understand what exactly the baby boomers did that was so terrible.
Who do you think voted for the system that promotes zoning restrictions that doesn’t allow for the building of more affordable/smaller homes and builder incentives for going for larger builds?
But good majority of Boomers likely started out in a smaller home that made it much easier to build wealth.
This post was edited on 5/26/26 at 7:56 am
Posted on 5/26/26 at 8:03 am to JohnnyKilroy
Wrong...u have NO clue how to speak towards someone else's tax situation without knowing all details. You don't know shite about our family's corporate and personal structures.....zero
Posted on 5/26/26 at 8:12 am to BluegrassBelle
This thread simply reinforces my belief of how many of my peers are low-key getting major handouts from their parents. Nothing wrong with that on a micro level, but I've noticed it is something they are reluctant to admit IRL.
These kind of actions do further perpetuate the reality that so much of your success in life is predicated on the wealth of your parents.
These kind of actions do further perpetuate the reality that so much of your success in life is predicated on the wealth of your parents.
Posted on 5/26/26 at 8:15 am to N2cars
quote:
If his estate is over the threshold, he can put ithe house in a trust now for het thus making it exempt from the estate and not counting against the 16M, or whatever it is now.
It’s 30M for married couples.
Read that dude’s posts and you know he’s probably worth closer to 30k than 30M.
Posted on 5/26/26 at 8:19 am to T1gerNate
quote:
I take it you have a problem with this boomer?
Not really, loser.
Posted on 5/26/26 at 8:20 am to Bigpoppat
quote:
The Baby Boomer generation ruined home ownership.
Explain, please.
Posted on 5/26/26 at 8:23 am to JohnnyKilroy
Yeah, Im aware. It will increase in 27
More importantly, my estate attorney is.
More importantly, my estate attorney is.
This post was edited on 5/26/26 at 8:26 am
Posted on 5/26/26 at 8:24 am 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.
no man....you are supposed to hold onto in until you die then give it to them when they are past retirement age...how dare you help your kid now
this board is so stupid, parents have been helping their kids with housing for a long arse time. hell go back and watch mob movies or sopranos and they talk about the need to help out their kids as they are just getting started.
I dont understand the jealousy on here. I wasnt given anything, but my friends that were....good for them. Why are you mad their parents were good parents and happened to be able to help their kids.
its like when poor people make fun of rich people as if its some kind of insult.
congrats on the cope.
This post was edited on 5/26/26 at 12:41 pm
Posted on 5/26/26 at 8:41 am to Auburn80
quote:
This really isn’t knew. Parents have helped with down payments for decades. Maybe it happens more now but prices are much higher.
My parents gave me something much more valuable.
Financial wisdom and a solid work ethic. With those two gifts I and my siblings have managed to live within our means and build stable wealth for ourselves and our families. Now my children have learned the same lessons and it's truly a blessing to see them building their lives as successful independent adults.
Would love to see pictures of these first time homes for 6 and 700K......
I'm sure these parents means well but they're not really helping, long term.
Posted on 5/26/26 at 8:46 am to Snipe
quote:
My parents gave me something much more valuable.
Financial wisdom and a solid work ethic.
because you can't teach your kids this while also helping them with initial costs?
Posted on 5/26/26 at 8:54 am to baytiger11
quote:
I hate when people our age have things given to them.
Why would it have any effect on you at all?
Posted on 5/26/26 at 9:00 am to honeybadger07
quote:
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?
I guess it's odd that my parents bought the house next to them for my grandmother. My sister bought the house next to my grandmother. Just weird that we'd want to live by each other.
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