Realtor.com® Survey Finds 33% of People in the "Sandwich Generation " say their Circumstance has Helped them Buy a Home
Realtor.com® Survey Finds 33% of People in the "Sandwich Generation" say their Circumstance has Helped them Buy a Home |
[28-June-2024] |
Approximately 1 out of Every 6 Americans Falls into the Sandwich Generation SANTA CLARA, Calif., June 28, 2024 /PRNewswire/ -- According to new research from Realtor.com®, 17% of Americans say they are taking care of their children (under 18) and parent(s)/grandparent(s) at the same time ("Sandwich Generation") and for a third of them, the impact of being in the middle has led to homeownership. The research also examined how the current "Sandwich Generation" has received support to help save for retirement and/or afford a home. "Unfortunately for home shoppers, affordability is still a big challenge in the current housing market, but for the Sandwich Generation, family support is providing a helping hand when it comes to finances," said Laura Eddy, VP Research and Insight for Realtor.com®. "Over half of adults within the Sandwich Generation who receive financial support from family members report that this support is helping them to afford a home, while a little less than half (47%) said the support helped them save for retirement." Being in The Sandwich Generation is Equal Parts Negative and Helpful "It's not uncommon for people to find themselves taking responsibility for the home of an aging or deceased family member and ultimately inheriting the home after they pass," said Kendall Bonner, Realtor.com® housing expert. "With today's increased home equity and the state of current lending rates, it can be an extremely helpful way to get into the housing market, especially if they are not currently a homeowner. Real estate continues to be the most consistent method for building generational wealth." Men, Millennials and Gen Z are Most Likely to Identify as Part of the Sandwich Generation Millennials Are the Most Financially Affected in the Sandwich Generation For those looking to buy, sell, or just take a look at homes, Realtor.com® can help consumers on all sides of the homeownership journey. For homeowners looking to understand their current home value or how a renovation will affect how much their home is worth, they can check out the My Home experience on Realtor.com®. For prospective buyers, calculating how much house they can afford and information on the loan options available to them – including assumable loans, which may provide an option for consumers looking for a lower rate are also available. The dream of home ownership can be a reality. About Realtor.com® Media contact: press@realtor.com
SOURCE Realtor.com | ||
Company Codes: NASDAQ-NMS:NWSA, NASDAQ-NMS:NWS |