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Reply to "Giving kids a down payment "
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[quote=Anonymous]For all of those who speak negatively about OP, helping kids buying their house is a very common thing in many other cultures, especially in non-Caucasian, less developed countries. Even middle class or lower-middle class parents in those countries would do whatever they can to save up at least some money and help their kids buy their first house. It's a very Western Caucasian thing for middle class parents to completely leave their kids on their own when it comes to buying their first house. I guess it's because less developed countries don't have a social safety net like Section 8 vouchers, strong tenants protection, as well as readily available 30-year fixed rate mortgage with only 3-5% down payment. - Signed, an immigrant from 3rd world country where most parents from lower-middle class and above would provide some financial help to their kids for house purchase.[/quote]
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