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Millennials moving back home were once labelled the boomerang generation, with insinuations that they couldn’t hack it on their own. The large numbers of young people moving home took care of that nonsense. We gradually absorbed the fact that it was the job market and expensive housing that put 20- and even some 30-somethings in this position.

It’s now time to ask what the new normal is for parents supporting their adult kids. Beyond offering room and board where needed, how common is it for parents to help with expenses like mobile phone plans and car insurance? With rent so expensive in big cities, how many parents are helping with that cost?

And then there’s help in getting into the housing market. We know that parents gave more than $10-billion to adult kids for home buying at the height of the housing boom. How common is it now to provide down payment help?

What’s the new normal in helping your kids financially? To help find answers, I put together this anonymous survey for parents with kids aged 21 and older. I’ll report back on the findings later on.

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Rob’s personal finance reading list

Their mortgage payments jumped $2,000 in a year

A homeowner talks about what soaring mortgage costs have done to his family’s finances, even after he and his wife got better jobs with pay increases.

Advice for women on negotiating a raise

Men make more than women on average. Detailed advice here for women on how to approach negotiations for a pay increase.

A master class in ordering at restaurants

I used to think my wife and I had a relatively high tolerance level for food costs at restaurants, but that’s over. I cannot believe how expensive some restaurants are right now. If you’re splurging, check out these suggestions from a pair of food critics on how to read a menu and order well.

The little things people are doing to save money

BuzzFeed asked about the big and little ways people are cutting back on spending as a result of inflation. There were enough responses to this call-out that a follow-up was published.

Ask Rob

Q: Why are we not talking about the 30 per cent decrease in house prices as a market crash? From my readings, the housing market crash in the 80s also experienced a 30 per cent decrease in house prices, but it was over a span of a few years, not a few months like we are seeing now. The swiftness of the price drop is truly astounding and worse than the gradual decrease of the 80s. What are your thoughts?

A: My wife and I bought our first house in the early 1990s in Toronto, after the full effect of a traumatic market crash. Many of the homes we looked at were being sold at prices well below the previous sale, which was often in the previous year or two. Mortgage rates were at or near double digits back then and people were choosing not to stay in homes that were plunging in value. I also recall it wasn’t unusual to see houses being sold under power of sale. I haven’t seen these chaotic conditions in today’s market, which tells me the decline has been orderly so far. High interest rates take as long as 24 months to take full effect, so we could see more stress ahead in the housing market. Then again, a recent Globe and Mail story documented how competition to buy homes is heating up in some cities.

Do you have a question for me? Send it my way. Sorry I can't answer every one personally. Questions and answers are edited for length and clarity.

Today’s financial tool

Ten thoughts on how to help your children learn about money.

The money-free zone

The UK singer Skinny Pelembe puts it all together – R&B, rock, dub and more. Check out Like a Heart Won’t Beat and his latest, Don’t Be Another.

From the Twittersphere

A chart comparing property taxes in Toronto against surrounding cities. Toronto’s a property tax bargain.

In case you missed these Globe and Mail personal finance-related stories

What I’ve been writing about
  • CDIC covers bank deposits, but who protects your investments if your broker goes bust?
  • Why parents should try to find the money for an RRSP contribution, even in these expensive times
  • The good, the sad and the unaffordable: Saving for a home down payment in Canada’s big cities

More Rob Carrick and money coverage

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