[joezydeco]

Funny that a spokesperon for a retail banking company will label borrowing from a pretax retirement account (which is completely legal and usually cheaper than retail credit) as a bad thing.

Equity is equity. In fact, targeting your savings into real estate right now might be better than a 401(k).

https://slate.com/business/2018/07/does-buying-a-home-count-...

In years past, young homeowners got gifts or loans from family to help assemble a down payment for a home. This really is no different, although it signals that the millenials' parents have no free cash to loan their children.

[koolba]

> In years past, young homeowners got gifts or loans from family to help assemble a down payment for a home. This really is no different, although it signals that the millenials' parents have no free cash to loan their children.

Or they're just (financial) idiots and decided to spend the same cash on a lavish wedding. It's hilarious (in a black comedy sort of way) how many people complain about not being able to afford a down payment yet spent more than enough for the down payment of an FHA loan on their weddings.

[joezydeco]

Millenials are getting married even later than GexX couples. I'd attribute it more to higher rent costs and student loans attacking their savings rate.

[Retric]

Yea, even if you have cash on hand for a 20% down payment it's useful to funnel it through the 401k. As long as you would be saving less than the annual limit per year in your 401k the difference works as a free loan from the government.