RBA warns on growing ‘Bank of mum and dad’

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By Leith van Onselen

Earlier this month, it was estimated that the ‘Bank of mum and dad’ had become the fifth biggest mortgage lender in the country:

NEARLY a third of home buyers’ hopes of nabbing a property hinge on getting financial help from their parents, with most NSW buyers relying on close to $90,000 in aid from mum and dad, new finance data shows.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.