Nepo Babies Take Lead in Homeownership With a Boost From Cash Gifts

A survey by Redfin found that 38% of buyers under 30 used a cash gift or inheritance from a family to afford their down payment on a house. High-interest rates and home prices make it difficult for individuals without significant earnings or family money to enter the housing market. The early accumulation of wealth through family assistance perpetuates intergenerational wealth inequality. Parental homeownership influences the likelihood of children becoming homeowners themselves.