Feb
12
We were interviewed a while back from the globe and mail regarding adult kids, who have their parents helping them out to purchase homes. It is a very interesting article on the generosity of the aging baby boomers, and how they want to help their children out. Below is an excerpt from the article where myself and my client were quoted.
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Other twentysomethings feel they have to resist their parents’ generosity where they can. Tyson, a 25-year-old who works in the film and television industry in Calgary and asked that his last name not be included, is currently looking for a townhouse. Because he works freelance, he needs his parents, who have just rounded the age of 50, to co-sign the mortgage. They were willing to help him more, but he declined because he’s not proud of his generation’s cushy situation.
“I’ve seen a lot of young people who get everything given to them with no appreciation for it,” he says. “I’ve seen a lot of kids whose houses were paid in full - they didn’t even have a mortgage.”
His real estate agent, Jared Chamberlain, who is 27, says he has seen parents buy themselves a new home and install their children in the original. He says he and his friends know they’re lucky.
“We were brought up in a generation where we had lots. Our parents were brought up in a generation that didn’t have as much. They want to provide us with more than they had.”
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To read the full article go to Globeandmail.com or click on the link and it will take you directly there.
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The Chamberlain Group
