• About
    • About Chapter
    • Chapter Jurisdiction
    • Committees
    • Mission
    • Our Centennial Year
    • Team
    • Board
  • Membership
    • Reason to Join
    • Regional Access / Councils
    • Member Resources
      • Careers
      • Building Industry Technology Academy (BITA)
      • New Homes Showcase
    • Join Now
  • Events
  • Advocacy
    • Research Reports
  • Newsroom
    • BIASC Magazine
    • Newsletters
    • Event Galleries
  • Contact Us
Business Industry Association of Southern California Business Industry Association of Southern California
Menu
  • Join Our Email List

    Join Our Email List

Business Industry Association of Southern California Business Industry Association of Southern California
  • About
    • About Chapter
    • Chapter Jurisdiction
    • Committees
    • Mission
    • Our Centennial Year
    • Team
    • Board
  • Membership
    • Reason to Join
    • Regional Access / Councils
    • Member Resources
      • Careers
      • Building Industry Technology Academy (BITA)
      • New Homes Showcase
    • Join Now
  • Events
  • Advocacy
    • Research Reports
  • Newsroom
    • BIASC Magazine
    • Newsletters
    • Event Galleries
  • Contact Us

Washington Post: Soaring rents force many millennials to get help from Mom and Dad

Business Industry Association of Southern California
Washington Post: Soaring rents force many millennials to get help from Mom and Dad
Washington Post: Soaring rents force many millennials to get help from Mom and Dad
March 29, 2018 Lei Lani Fera

The tradition of parents and grandparents offering down payment funds for their offspring to help them buy their first home is nothing new. But what is relatively unknown is the widespread financial assistance given by parents to millennials for rent money, everyday expenses and one-time expenses such as moving costs. Before you start the “millennials are lazy” soundtrack, though, it’s important to recognize the impact of economic issues on this generation, particularly in the housing market. A recent analysis by Apartment List found that since 2000, home prices have risen by 73 percent and rents have increased by 61 percent. At the same time, incomes for younger households have only increased 31 percent. One in four renters spend more than half their income on rent, and 15 percent of 25- to 35-year-olds live with their parents to save money on rent.

Read Full Article
Categories:Washington Post
Next Article

Washington Post: America’s affordable-housing stock dropped by 60 percent from 2010 to 2016

Previous Article

Washington Post: Democrats' Housing Problem

©2023 BIASC Riverside
  • Sitemap
  • Privacy Policy