Homes are so expensive in the US that 38% of young buyers say they were only able to break into the market with help from their family

• A Redfin survey found 38% of under-30 homebuyers relied on financial help from family to afford a down payment.
• That came in the form of a cash gift or an inheritance, the survey said. 
• First-time homeownership has become increasingly expensive, keeping more young people sidelined.

The unaffordable housing market is uniquely challenging to younger Americans who have smaller incomes and nest eggs.

A spring Redfin survey found that 38% of buyers under 30 relied on family to help afford a down payment, in the form of either a cash gift or inheritance. In a Forbes column, Redfin chief economist Daryl Fairweather said first-time homeownership has become so expensive that it’s excluding young people who lack family money.