Recent research reveals that a significant portion of homebuyers aged below 30 are being financially supported by their families to secure down payments for their purchases.
As a consequence of this trend, experts are introducing the label ‘nepo homebuyers’ to signify young individuals who depend on familial financial assistance to enter the real estate market.
This development arises in the midst of a challenging housing affordability landscape, which has now escalated beyond the levels witnessed in 2006—a period marked by robust property market activity leading up to the 2008 financial crisis.