Parents to the rescue, helping their kids buy homes.
It’s no secret that housing affordability is so insane for the majority of us in the bay area.So much so, even a lot of “high earners” still find themselves struggling.
Although the housing market is a little slow ATM rent prices are still at historical highs.
Did you know: In San Francisco, roughly half of renters spend more than one-third of their income on housing-related expenses.
Parents see this problem and want to help. They don’t want to see their children be forced out of the area they have lived at their whole life. 8% of millennials who aren’t in school get help from their parents for rent. According to a MARCH Report from Apartment list. Some parents that have the ability, even buy a house for their kids or hold on to the one they live in and plan on passing it down. They understand that living in the most competitive, expensive housing market doesn’t allow their kids to live the life they had growing up.
Side Note: Listen, I know not all parents can help with something like this, it sucks but sometimes parents help in other ways. They Support by paying your phone bill, maybe handing you a few bucks, or even just emotional support.
You have to keep your head up and if you don’t have your parent’s help or your parents aren’t around, you have to work extra hard and never give up. Maybe it means moving but don’t lose your faith and dream in becoming a homeowner. Maybe too deep for a Real Estate post but hey, I’m only human and I care.
Well, that’s it for now. Thank you, I appreciate you and your time!!!
xx
Your Favorite Stylish Realtor
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