Reply to How old were you when you bought a house that is $1.2m+

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Reply to "How old were you when you bought a house that is $1.2m+"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I think the OP you are referring to is Asian. It is very common for Asian parents (especially ones that are still in Asia) to pay for huge downpayment or buying outright. I know one Chinese colleague, she and her husband bought a $2.2m townhouse in Georgetown at 28. It was paid entirely by the parents.

But do keep in mind, they have to take care the parents after they retire. No senior living community, which is considered a shame. I'm not sure I would trade parents help for that.[/quote]

I am Asian and I can tell you my parents did not pay money for my house.  Neither do they pay for the kids' weddings.  Likewise for any of my Asian friends.  As a matter of fact, we bought our parents home for them![/quote]

Asian parents also laugh at the idea of 529.  My parents don't know what that is.  They expect us to be smart enough to get our own scholarships to pay our way through college.[/quote]

Dumb and false. Top schools no longer give merit scholarships. All of the Asian parents I know save up so their kids don’t have to be saddled with huge loans.[/quote]

So do white parents, so it's not an Asian thing.  How about saying it's a rich parent thing?[/quote]

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