No one, as Tom Postilio, a real estate agent in New York at Douglas Elliman, put it, wants to post on Instagram: “‘So glad I could move into this apartment that I don’t make enough money to buy, but thanks Mom and Dad for the cash.’” Mr. Postilio estimates that a quarter of his 30-something clients who are buying larger apartments (over two bedrooms) receive money from their parents, whether it’s in the form of a gift, a low-interest loan or co-purchasing.


blackbootz:

On the one hand, this article is a helpful reminder to never compare one’s superficial station in life. Lord knows what hell they may have received.

On the other, it seems written to help alleviate the guilt of the population being described: city-living millennials receiving help from their affluent boomer parents. The article alludes to the population of millennials not receiving help but barely describes their tribulations except for mentioning that some may be supporting their parents instead of cashing their checks.

It’s hard, as the article exhorts us, to stop shaming boosted millennials when the article doesn’t do much to make them seem sympathetic.

That said... I know so many people who get help from their parents—myself included. While it makes sense from each family's standpoint, it collectively reinforces our socioeconomic divisions.

I’m blown away by how different this is from thirty years ago.


posted by kleinbl00: 220 days ago