Nearly half of all parents in their 60s have supported their adult children financially in the past six months, according to SBAB’s calculations.
The most common is to support their displaced children.
– This shows that the high inflation and the rising mortgage interest rates are digging deep holes in the pockets of these families, says Arturo Arques, private economist at Swedbank and the savings banks.
The survey was carried out by Kantar on behalf of SBAB and it shows that every second adult child aged 32-41 has received money from their parents in the past six months. The results of the survey show that the economic situation is serious right now, says Arturo Arques.
– Seldom has purchasing power fallen so much for so many people in such a short time. These are tough times.
It is not unusual for parents in their 60s to help their children get into the housing market, says Arques. But the private economist is somewhat surprised that a large part of the 32-41 age group receives financial support.
“Light in the Tunnel”
– But on the other hand, we have had low interest rates for a long time and housing prices that have risen to the sky. If you want to start a family and buy a home, it will be expensive and then you will be heavily in debt.
But there is a light at the end of the tunnel, says Arturo Arques. The rate of inflation is on the way down and the interest rate peak will probably be reached soon.
– At the same time, housing prices have started to fall somewhat. Even if interest rates go up, house prices go down.