I forgot to mention, this is in South America. As far as I know, cross-gen households used to be the norm here, and mortgaging your home isn’t common, because there’s simply less social pressure to leave your parents’ home if you can’t afford a house.
And historically, that was expected and normal, and having your own place was unusual. The oldest usually took care of the parents and the rest moved out. That’s SL still very much a thing in Korea, a very developed country where people could probably afford to live separately.
I think the only reason this is a thing is because houses are prohibitively expensive for about 60% of the population right now. So your options are
Most people are much better off with a house from their parents than paying some rich douches mortgage for them.
I forgot to mention, this is in South America. As far as I know, cross-gen households used to be the norm here, and mortgaging your home isn’t common, because there’s simply less social pressure to leave your parents’ home if you can’t afford a house.
And historically, that was expected and normal, and having your own place was unusual. The oldest usually took care of the parents and the rest moved out. That’s SL still very much a thing in Korea, a very developed country where people could probably afford to live separately.