Intergenerational Support and the Financial Strategies of Young Homebuyers in Shanghai

Abstract

While homebuying has become central to the economic security and life-course transitions of younger Chinese adult cohorts, affordability has become an increasing obstacle. With individual savings and housing loans fading as means of achieving homeownership, intergenerational transfers have acquired renewed status. This paper addresses the agency of young people and their families in negotiating adverse housing market conditions. It draws on qualitative interviews with young-adults in Shanghai that explore intergenerational transfers and the strategies deployed to finance homebuying and in developing long-term financial arrangements. Our research stresses intergenerational collaboration in how young people navigate owner-occupation as well as how features of families and housing financialization combine to shape the behaviour of young people in the housing market. Shanghai represents a challenging market for young homebuyers, but provides insights on how family-support can shape housing systems and pathways in various housing contexts.