All articles tagged with #family assistance
The decline in 'nepo' homebuyers, who rely on family help to purchase homes, signals a shift in the US housing market, with younger, less dependent buyers now less frequently receiving family aid due to rising costs, older buyer demographics, and changing market conditions, which could impact future homeownership dynamics.
More than a third of millennials and Gen Zers planning to buy a home expect their parents to help with their down payment, whether through cash gifts, inheritance, or living with family to save money, due to soaring home prices and tight supply. Redfin's chief economist coined the term "nepo homebuyers" for these individuals. While family assistance is increasingly common, it also exacerbates the generational disadvantage faced by those without family money, making homeownership more challenging for them.
Eight people were killed and seven were injured in a mass shooting at the Allen Premium Outlets in Texas. Among the victims were three young children from two different families. A fundraiser has been created to support the family of a 6-year-old boy who was injured and lost his mother in the shooting. The mall remains closed indefinitely, and crisis assistance is being made available to survivors and witnesses. A centralized hub for verified fundraisers related to the shooting has been launched by GoFundMe.