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:

omg

discuss.tchncs.de/post/2426785?scrollToComments=t…

Psaldorn , (edited )
@Psaldorn@lemmy.world avatar

== Edit: the below is untrue ==

In the UK you have to state where the money came from, so there’s only a limited amount your family can help.

Can’t threaten the landlords!

merridew ,

What? There is no limit on the size of funds that can be gifted to help buy a house in the UK. If your family wants to bung you £500k of their own money there’s nothing stopping them.

The requirement to demonstrate proof of funds for that money is to prevent money laundering.

Psaldorn ,
@Psaldorn@lemmy.world avatar

Someone lied to me… thanks for the correction

merridew ,

No problem. There’s a lot of confusing stuff surrounding homebuying.

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