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Real Estate
Reply to "Can we talk about parents buying their adult children luxury homes"
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[quote=Anonymous]This is a way to build inter-generational wealth. My parents helped us with a down payment, and we hope to do the same for our kids. I recall reading on the Financial Samurai that something like 50% of buyers in San Francisco rely on the "Bank of Mom and Dad" to buy their first home. At least in Bethesda where I live, this must be common, as there are tons of people who are not just relying on W-2 wages to pay for their housing. (Example -- the federal employee (lawyer) with a SAHM wife, and they live in a $2 million house.) I'm not sure if that's from hitting it big in prior jobs, or from inheritance, etc. [/quote]
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