What role does cultural background play in loans from the bank of mum and dad?
When he was in his early 20s and moving to Sydney for a graduate position, Anthony received financial support from his parents to help him to buy a one-bedroom apartment.
"They provided half of the deposit [about $30,000], went guarantor, and carried me for the first year so that I could get ahead on the mortgage," the now 30-year-old says.
This is a familiar story for many young people.
Housing is becoming increasingly unaffordable, with the house-price-to-income ratio ballooning from 2.5 in the early 1990s to over 6 in 2021.
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