145
Welcome to the ‘nepo’ housing market: 40% of homebuyers under 30 get family money to cover their down payment
(archive.ph)
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:
https://discuss.tchncs.de/post/2426785?scrollToComments=true
Doesn't it seem a little unfair if ones ability to own land is dictated by the lottery of what their parents have achieved?
This could be the beginning of a slow slide back towards feudalism and lords with no social mobility for the lower classes.
Is it unfair that having wealthy parents gives you an advantage in life?
Yeah, it is... buy that doesn't make it unethical for parents to help their kids, it means the society has to improve the safety net.
That's the wrong message that you are getting out of that article. The problem is that more and more people need their parents help to get in the market.
That trend means that at one point, help from parents will be obligatory to buy a first house, closing the market to anyone that doesn't have rich parents.
I got some bad news to you re: the market being closed to poor people.
Yes, it's bad news. That's the point of the article, to draw attention to a bad societal trend, it's social commentary. Identifying a problem is the first step to solving it.
Sure, it's not unethical for a kid to accept (necessary) help to survive, though it is to vote for or otherwise institute a society where that is necessary. The point the article is attempting to make is social commentary to draw attention to the fact that increasingly the lottery of inheritance is the only means of owning a home.
The first step to resolving the issue is identifying it. Nobody likes the implication that their success is not earned, by making that uncomfortable point the author is attempting to cause people to support change to correct this trend.