Reply to Can we talk about parents buying their adult children luxury homes

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I don't think this is a "trend" per se, it's just parents giving their children what they can afford. In your instance,  you are hanging out with people whose parents  can afford to help with $800+  homes.

This is very common in other parts of the world. The childhood home I grew up in (not here) was given to my dad by his parents.  
My DC are preschoolers now, but when the time comes, if I can afford to do it,  I will absolutely help with housing. 
 [/quote]

Sure, I think it's one thing to help with housing, it's another to put them in a home they would never get close to be able to afford. Forgetting even just the principle and interest on these mortgages the property taxes and maintenance alone on these houses would take a chunk out of their salary. There is also the matter of what others in their circle think or know of them. I feel like this is almost a face saving or vanity measure for the parents[b]. Yeah my kid only makes 55K but if I put them in a 800K house nobody will think that, they'll think they're "winners" just like me. [/b]
[/quote]

But they are "Winners" because they won the inheritance lottery. They won generational wealth which will make their and their children's life easier. It is not as if the parents can take the wealth with them when they die, so why not give a tremendous leg up to their heirs? It is there to set up their children and give them a great life.  (It may trigger envious Losers though)[/quote]

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