Hong Kong's Kids Are Turning to Parents for Home Loans
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Hong Kong’s de facto central bank is keeping a close eye on a trend that’s become increasingly apparent as home prices have soared in the world’s least affordable market: More young buyers are turning to their parents for funds.
“Recent developments in new sources of home financing deserve careful monitoring as they could have implications when viewed from a broader financial stability perspective,” the Hong Kong Monetary Authority wrote in its half-yearly financial stability report on Thursday. “Anecdotal evidence suggests that support to young homebuyers from parents has become more popular.”