Originators waiting for a new wave of potential home buyers may be waiting longer than expected: A new survey finds that 59% of parents are providing, or have in the past provided, financial support to their adult children when they are no longer in school.Â
According to the survey, which was commissioned by the National Endowment for Financial Education in cooperation with Forbes.com, 50% of parents who are providing financial assistance to their adult children are covering their housing expenses, while 48% are covering living expenses and 41% are aiding with transportation costs.
Thirty percent of parents responded that they have given up privacy since their adult children moved back home, 26% have taken on additional debt and 13% have delayed a life event, such as buying a home.
The survey was conducted online by Harris Interactive among 683 adults aged 18 to 39 who are not students and 391 parents of children aged 18 to 39 who are not students.