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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][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Oh please. My parents did this, and it helped us build equity in a good investment. After a while we sold our first home and bought our second without any additional help. It’s not different than any other advantages the well off have. [/quote] And I am sure you paid your parents back for all that they did for you.[/quote] If parents are trying to pull kids into the UMC, they don’t want to be paid back after they transfer wealth [/quote] DP. If the parents are gifting their kids luxury homes, the family is UC, not UMC. [/quote] not necessarily. I define upper class as enough wealth to be able to live off of that wealth. An attorney making 400k a year still needs to work to enjoy their life style. A kid with a trust fund generating the same amount does not need to work. The attorney will be able to help their kids buy a home, but those kids will also likely have to work to earn a living [/quote]
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