Sounds like more homebuyers across Metro Vancouver are relying on financial support from relatives.
A poll commissioned by local banking group BlueShore Financial indicates 41% of participants received assistance from their families and 76% of the parents asked are considering helping out their kids with a family-financed mortgage.
The most common form of help is a loan for a down payment ranging from $100-thousand to almost $200-thousand.
Of the 356 men and women who took part in last month’s survey, 80% already own their homes.
Nearly six out of ten believe their kid’s ability to purchase a home will be delayed without support.