Can Millennials Afford a House without Family Help? Professor Yuval Elmelech on Marketplace
Yuval Elmelech, an associate professor of sociology at Bard College and author of the book Wealth, spoke with Marketplace about the difficulty millennials face in buying a house, especially in cities such as San Francisco and New York where they are being priced out and even forced to relocate. For many who live there, parental wealth has made a big difference. “If parents can help their children buy a home, this means that these children will need to rely less on loans and mortgages,” he said. “Whereas other young couples, individuals who cannot rely on parental resources—and this is the majority of the population—will have to take out higher loans.”
Post Date: 01-10-2023
Post Date: 01-10-2023