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Real Estate
Reply to "How many people in your social group had family support in buying a house?"
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[quote=Anonymous]Some, I suppose. A few come from incredibly wealthy families, so I am sure they received help. Not sure about others. For my part, I received a $10,000 loan from my parents to help with a down payment. I paid it back in less than 2 years (by prior arrangement with my parents) by forwarding the rent I received from my roommate directly to them. 20 years later, that small co-op was leveraged into a larger condo, which was leveraged into a SFH. Not exactly the Rockefeller family plunking down a $200k down payment, but definitely helped me get on the property ladder. [/quote]
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