Survey: Baby boomers help adult children buy houses

Baby boomers helping children pay for a homeA new survey by Better Homes and Gardens magazine found that baby boomers are providing their children and grandchildren with some additional funds to put a down payment on a home.

Due to the tough economy, the children of baby boomers are having a tough time saving enough to buy a home. The survey showed that one in five baby boomers is planning on helping by gifting or loaning funds.

"We have always understood the value of homeownership and our readers' passion for making their homes serve their lifestyle needs," said Jill Waage, editorial director of home content at Better Homes and Gardens magazine. "We're thrilled to see that younger generations' interest in homeownership is so strong and that their baby boomer relatives want to help them reach this significant milestone."

The first wave of baby boomers have reached retirement age, and they are expected to spend their retirement living years keeping up with their active lifestyle. This new trend is one of the many that people are expecting while the boomers live out their golden years.