A recent TD Canada Trust survey found that 10% of Canadians are considering the purchase of a condominium for their adult children. This is up from 5% just a year earlier and certainly reflects drastically increasing housing costs over the past decade.
Gerry and Joanne were more than happy to give their daughter a sizable down payment to help her and her new husband get into a home of their own. Unfortunately, like almost half of marriages, theirs ended in divorce. The ex-husband got half of the proceeds of the sale of the house, even though they were only married for three years.