Trust fund kids struggle as parents pull back their life line.

[jeffrey]

For the past five years, Ernie DiGiacomo has been able to count on parents to guarantee the $1,500 to $2,500 rents he charges for the 15 apartments he owns in Williamsburg, Brooklyn. When he called renters who had missed payments, he often heard, “My parents will send you a check.”

But in the past six months, the parents are pulling back financial help, he said, and as a result, he has watched more renters move out.

“Most of them are moving back with parents,” Mr. DiGiacomo said...

http://www.nytimes.com/2009/06/08/nyregion/08trustafarians.html?_r=1

[Joan.of.the.Arch]

That is such a tiny slice of the population. At least I hope it is.

When my 21 year old son was here visiting before heading off to his summer job, my husband was trying to give him money. Son would not take it....Yes, parents want to help, but parents also want to see their offspring grow up.