It has long been known that due to affordability challenges, young people have turned to their parents for money to help fund a deposit to buy their first home. But recent figures suggest that the ‘Bank of Mum and Dad’ (BOMAD) may be running out of cash. Bloomberg’s research suggests that while many first-time buyers are still relying on their parents, more and more are turning to their siblings instead. So what does the rise of BOBAS (the Bank of Bro and Sis) tell us about the housing market?
