The bank of mom and dad has skipped a generation, with parents now buying houses or condos for their school-aged children or grandchildren. Nervous upper-middle-class homeowners are hoping that the strategy will help younger generations gain a foothold in Vancouver.
At the rate things are going people are afraid,” said Kristine Skinner, a financial adviser with North Vancouver-based credit union BlueShore Financial, referring to recent rapid price gains in residential real estate.
