The Bank of Mom and Dad

The Bank of Mom and Dad is helping buoy up the Toronto housing market….
‘Gift letters’ have become a common form of currency as young buyers struggle to save down payments.  Helping out the kids with a home purchase is not new. But the amounts being signed over have reached staggering heights in the GTA, say mortgage industry observers. CANADIAN PRESS

read more: GTA housing buoyed by parents helping young buyers