ATLANTA: Young people are getting on the housing ladder thanks to loans from their grandparents.
More than five out of six grandparents have given cash and loans to their grandchildren since 2012, according to a survey. Three quarters added that they had already dipped into their savings this year to help their grandchildren.
More than half (52 per cent) of those questioned planned to help their grandchildren financially within the next five years, according to the poll of more than 2,000 grandparents.
The effect of the trend is to encourage more over 70s to stay put in their existing home…