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Carl Johnson · 03-20-2014, 04:49 PM

http://www.vancouversun.com/business...573/story.html

The ?bank of mom and dad?: Advice on helping children with that first home purchase

Although I see nothing wrong with mom and dad giving kids some financial assistance in helping them get started, but is it entirely different sacrificing parent's own retirement and way of life by sending their kids into the most expensive real estate market in North America.

These kind of stories are just signs of time. You never see these stories at the bottom of a cycle where houses are much more affordable. Parents should help their children better assess the market they are buying into and where rates are headed. Questions such as whether renting in the short term (1-3 years) make more sense than taking on an outsized mortgage that could handcuff the parents' retirement.

03-20-2014, 04:49 PM	#2146
Carl Johnson WOAH! i think Vtec just kicked in! Join Date: Oct 2005 Location: Vancouver Posts: 1,650 Thanked 348 Times in 165 Posts Failed 127 Times in 56 Posts	http://www.vancouversun.com/business...573/story.html The ?bank of mom and dad?: Advice on helping children with that first home purchase Although I see nothing wrong with mom and dad giving kids some financial assistance in helping them get started, but is it entirely different sacrificing parent's own retirement and way of life by sending their kids into the most expensive real estate market in North America. These kind of stories are just signs of time. You never see these stories at the bottom of a cycle where houses are much more affordable. Parents should help their children better assess the market they are buying into and where rates are headed. Questions such as whether renting in the short term (1-3 years) make more sense than taking on an outsized mortgage that could handcuff the parents' retirement.