The number of young homebuyers leaning on family financial support for down payments has sharply risen, doubling in the past five years, according to a recent report by Redfin. The survey, conducted by Qualtrics on behalf of Redfin, which included around 3,000 U.S. homeowners and renters, revealed 36% of Gen Z and millennials are leveraging family financial support to bridge the gap created by soaring housing prices. Additionally, the study showed other financial strategies adopted by these groups: approximately 16% plan to utilize an inheritance for the down payment, while 13% intend to save …
