A recent Well Fargo study found that nearly two-thirds of parents with kids aged 18-28 rely on financial support from their parents. Additionally, a National Association of Realtors study discovered that around a quarter of first-time homebuyers said gifts or loans from family or friends were the top reason they were able to afford a down payment.
Financial Assistance from Family
CNN is looking to speak with people whose ability to buy a home, pay for education, start a business, weather a job loss or build wealth was influenced by money or assets received from relatives. They are also interested in hearing from people who feel they have fallen behind because they did not receive similar financial support.
Original reporting: KEYT (Ventura/Santa Barbara) — read the source article.
