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Parents Are Buying Homes for Kids Priced Out of the Housing Market
High property prices and mortgage rates mean new homebuyers are relying on assistance more than ever before, real estate agents say.
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Even as the US real estate market shows signs of cooling, inflation and higher interest rates are making it difficult for young house hunters to buy properties — at least on their own.
Parents are increasingly helping their adult children purchase homes, whether that means co-signing a mortgage, giving money for a down payment or buying the property outright, according to real estate agents across the country.