80% of my friends need parental assistance to afford HCMC homes

June 6, 2024 | 03:02 pm PT
80% of my friends need parental assistance to afford HCMC homes
Apartment buildings, land and houses in the eastern part of HCMC in July 2023. Photo by VnExpress/Quynh Tran
Most of my friends could buy homes in HCMC early because they got help from both parents and in-laws, with only one managing to secure an apartment on their own.

Recently, I read an expert's opinion stating that among those who want to buy real estate in the next year, 64% are under 40 years old. About 60% of young people aged 22 to 29 are confident that they can buy a house in the future, the expert said.

I shared this with my group of friends from university, remarking that the youth these days are so successful.

However, their consensus seems to be: "They are confident in buying a house, but not on their own."

This prompted me to do a quick research into my friends, and I found out that four out of five were able to buy a home in HCMC thanks to financial support from their parents.

One couple bought an apartment two years after getting married. They got over VND1 billion from the bride's parents.

One couple bought a house in an alley in District 12 in HCMC’s northern area mostly with money from the groom’s parents.

Two couples bought apartments far from the city center with money borrowed using their parents' properties as collateral.

Only one single person bought a studio apartment with their own savings and bank loans.

We all have university degrees, stable jobs, and also take on various side jobs, but our incomes are barely enough to cover living expenses, child-raising costs, and risk allowance. The is that only one out of five people bought a house on their own, and that person does not have to raise children.

Real estate prices are increasing far beyond the financial capability of young people. Without significant financial help from their parents, how many of them can ever afford a house?

While the youth is striving to save for a home, I hope that the government can pay more attention to housing support policies to create opportunities for as many people as possible to own homes and have stable lives.

Buying a house with parents’ aid brings many benefits to young people, helping them stabilize their lives and focus on taking care of their families. But I feel like this is an unfair advantage over those who do not have well-off parents.

Besides, wouldn’t it be less of an achievement if you bank on your parents’ money when buying your first home?

Reader Trong Nghia

*This opinion was translated into English by AI. Readers’ views are personal and do not necessarily match VnExpress’ viewpoints.

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