We’re well into year four of a classic supply vs demand cycle. Longtime homeowners either don’t want to move or can’t afford to, so there is a decreasing number of homes for sale (lack of supply) that is being pursued by an increasing number of buyers (higher demand):  the result is rising prices.

With the prices of real estate continuing to increase, how can the buyers afford to pay those prices?

Who are those buyers?  The Millennials! And guess what? They don’t care how much the house costs-it’s just a number, as long as they can get the loan. They have good income, usually dual incomes. But there is all that student debt. And they have life-style expenses that eat away at available cash. No way to save for the required down payment.

Ever creative and innovative, the Millennials are turning to Crowd-funding. When a Millennials marries, they don’t want china and crystal, they want cash towards a down payment. Onlines registries like HoneyFund include the option of gifting a down payment contribution. No marriage in sight?  Register with companies like HomeFundMe or Feather-the-Nest.   It’s easy: sign up and then share a link with family and friends.  Each platform has different guidelines, but all with the same end game – a way to get a down payment so that the buyer can get on the home ownership band wagon.

Crowdfunding has become the latest source of funding a down payment for many Millennials.  And why not?  People turn to sites like GoFundMe and Fundly to raise money for things as frivolous as an XBox, so why not look to family and friends (and possibly strangers) to help with a down payment on your first home?