The New American Dream: Parental Financial Support

In the US, the traditional formula - college, job, savings, home ownership - is increasingly dependent on family financial resources. According to the American press, many young people are struggling to achieve homeownership and wealth accumulation due to increasing debt, high housing prices, and student loans. A recent Federal Reserve survey found that nearly half of adults aged 18-29 received support from their parents or relatives for expenses such as housing, transportation, and health care in the past year.

Rising housing prices, high mortgage rates, student loans, and increasing living costs have made it more difficult than ever for young Americans to become homeowners.

Furthermore, 49% of this age group still lives with their parents, a 12-point increase since 2019. Experts argue that the rapid rise in housing prices and high interest rates in the US have made family support a significant economic advantage for young people.