History doesn’t repeat but it sure does rhyme. With the Australian property bubble back in full swing, the ‘bank of mum and dad’ is once again on the rise:
The “bank of mum and dad” is helping adult children with not only housing costs but everything from fuel and phone bills to holidays, a new survey shows.
More than half of Australian parents surveyed subsidise the lifestyles of their adult children, with almost 40 per cent letting them live rent-free and about the same proportion paying for their groceries.
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