Married couples who are receiving cash instead of wedding gifts and using it for housing purchase funds are increasing in the country.
The Wall Street Journal (WSJ) recently cited a survey by the wedding-related website Zola this year and reported that 7 out of 8 prospective couples plan to include cash funds in their wedding gift list. Among them, about 40% were found to be planning to use the money received for housing purchases or moving expenses.
Some prospective couples are even creating ‘first home purchase funds’ and requesting cash support from guests. While requesting money directly at weddings was considered rude in the past, analysis shows that the culture of wedding gifts is also changing due to high housing prices and the burden of living expenses.
Anna Grace Nimmo (26) and Matt Dressler (29), a couple residing in New York state, created a first home purchase fund ahead of their wedding last May and raised about $2,000.
The two people looked for houses with a budget of about $450,000 last year, but they are continuing their life in rent because they could not find a suitable house.
