4.2.3. Financial support

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Financial support is a relatively new phenomenon as compared to traditional forms of parental assistance such as construction support or intergenerational co-residence. In traditional rural communities, if material support was provided to children besides labour, it came in the form of objects such as textiles or furniture, not money (Szilágyi, 2000, pp. 723–725). However, data reveal that by the postwar period financial support became a common form of parental support. It was received by 34% of people who were aged 45-51 in 1979 and were supported by their parents in some way (Sik, 1984, p. 361). A higher share of the same cohort provided financial support to their children later (ibid, p. 363). In a representative survey recorded in 2008, Örkény and Székelyi (n.a., p. 8) found that 36% of the great-grandparent generation provided support to their children, while the respective figures for the grandparent and the parent generation (including planned transfers) were 54% and 60%.

Jegyzet elhelyezéséhez, kérjük, lépj be.!

Harcsa’s (1991, p. 309) data suggest financial support was even more widespread in the younger generation. In 1984 he found that 78% of the population of young people between 15 and 34 received material (mostly financial) support in housing access. The increase of financial support was also reported by H. Sas (1978, pp. 79–81).

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More recent data suggest that today a relatively high share of home owners received housing-related financial support from their parents. Hungarian data from a representative survey about the circumstances of first-time access of the population under 60 to home ownership aged 45-51 reveal 39% of respondents received financial support for the acquisition of their first owned dwelling and 15% received their dwelling as a gift (Medgyesi, 2007, p. 102). With this figure, Hungary belongs to the group of semi-peripheral countries where this type of support is most widespread (for international data see Section 3.3).
 
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