Crowdfunding has become a popular form of raising money for everything from starting a business to paying medical bills, so it’s not a huge surprise that someone has come up with the idea of using crowdfunding to help home-buyers raise funds for a down payment.

It’s true that saving for a down payment is one of the biggest challenges first-time home-buyers face today. There are multiple reasons for this: Home price appreciation has risen much faster than wages, the cost of renting has increased dramatically making it difficult for renters to save money, and many of today’s first-time buyers are saddled with their share of the $1.4 trillion in total student debt. Add to this the shortage of lower-priced entry-level homes, and it’s easy to see why someone would be tempted to let anyone who wants to contribute to their down payment chip in.

https://www.forbes.com/sites/forbesrealestatecouncil/2017/11/06/crowdfunding-down-payments-a-key-to-unlocking-homeownership-or-opening-pandoras-box/#47176e171124

 

 

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