Posted on 04/09/2012 1:29:14 PM PDT by dragnet2
As the economy continues to take a toll on consumers' finances, a growing number of people are discovering that becoming roommates with mom and dad, or a 20- or 30-something son or daughter, helps to ease some of the financial pain in tough times.
As of 2010, 4.4 million U.S. homes held three generations or more under one roof, a 15% increase from 3.8 million households two years earlier, according to the latest data available from the Census Bureau.
For multi-generational households, there is typically a nice payoff. Not only do they save money, but they are better able to avoid financial hardship.
"It's such an advantage to have multiple wage earners in the same household when the economy is still struggling." ... the multi-generational housing trend is one he expects will continue.
Census reported that "doubled up households," those including at least one extra adult who is not enrolled in school and isn't a spouse or partner, grew 10.7% to 21.8 million households in spring 2011, up from 19.7 million households four years earlier.
Many of those homes included adult children who flew back to the nest after being unable to find work. The number of 25- to 34-year olds living with their folks jumped by more than 25% between 2007 and 2001, Census reported.
Builders take note. "The recession caused doubling up to save money -- and the story is still unfolding,"
The long-term impact, he said, is that more families will want bigger homes with more bedrooms to accommodate their extended families.
In fact, so many relatives are already moving in with one another that builders are starting to construct homes to accommodate them.
Home builder Toll Brothers has started incorporating multi-generational living arrangements directly into its designs... Previously, such accommodations were offered only as custom options.
(Excerpt) Read more at money.cnn.com ...
“This is nothing new to friends of mine from Europe and Asia.”
It used to be the norm here.
“In fact, so many relatives are already moving in with one another that builders are starting to construct homes to accommodate them.”
Hard to believe that those moving in together out of necessity will be shopping for these fancy new homes.
It was typical in the US until after the Second World War. When soldiers came back home, with money to spend, and an economy that offered lots of jobs, builders started constructing small single family homes, which quickly displaced the old multi-family homes, or homes with In-Law apartments built on.
Now that it has gotten very expensive for younger people to buy homes, living with parents longer will be the norm for a while. And with older people not being able to take care of their homes, moving in with one of their children is a less expensive alternative to a nursing home.
This was trending here before 2007, maxxed out square footage, designed to be economical to construct, basically a two storey box on a concrete slab, vinyl sided and very plain. I couldn’t figure out who wanted the things, but now I understand it a little better.
You can still see Great Depression era construction out in the country that was built for the same purpose. Such houses have two front doors.
I should think the commies in chief would HATE this. If this keeps happening the next thing you know people are going to strengthen their families. Young couples will have babies because there will be somebody home to take care of them while they work. People will eat healthy meals because someone is there to cook the food. This could be really really bad for the goverment is all-in-all crowd!
I agree.
I agree. this was normal for my family until after ww2 for the most part but even then homes were multigenerational. It was huge to be able to move out on your own back then. By the time I was born...in the 60s and ready to get married in 1989, just about everyone I knew lived at home until they got married. It was the way it was done in my area.
I know all families do things differently but in our house everyone is welcomed to live at home until they can make it on their own...and come back if need be.
I would never let my parents live in a nursing home. So I didn’t. My dad lived at home with my mom taking care do him and my sibs and I helped. After he died and my mom lived alone, we helped until she had to move in with us. She died here in our house with us caring for her.
I was fortunate in that my husband was the primary income. I was able to be a stay at home and be there for my parents when they couldn’t take care of themselves.
Sorry for typos...using an iPad and trying to figure it out lol.
Not sure many are financially able to do it this way. We made our choices..good and bad....I hope my kids can live on their own after college but if not then they are welcomed to live with us.
True. Back in 1989, when I was married, we were able to buy our fist house in 1992 and our dream house in 2000. My kids won’t be able to do that here in our area. They couldn’t afford to live in this area. But they are able to attend college with little debt because we pay for room and board and they received academic scholarships.
Meant to say first married..
I keep telling my kids...live at home for a while to save money. Hoping they get ful time jobs in the area.
Maybe I’m too old school. Idk.
True. Back in 1989, when I was married, we were able to buy our fist house in 1992 and our dream house in 2000. My kids won’t be able to do that here in our area. They couldn’t afford to live in this area. But they are able to attend college with little debt because we pay for room and board and they received academic scholarships.
Meant to say first married..
I keep telling my kids...live at home for a while to save money. Hoping they get ful time jobs in the area.
Maybe I’m too old school. Idk.
Problem is, few of the low wage folks can ever move out as their stagnant wages will *never* keep up with prices of nearly everything, which in many cases, increase weekly.
I get that. I also get that for those of us in the middle class..it’s worse, for those of us who moved up so to speak our kids won’t be able to. They won’t be able to because they aren’t some protected minority. This is where I am and what I see. My concern isn’t about some so called minority who still can’t make it with all the opportunities handed to them on a firkin silver platter, My concern is my kids white kids, who attend college beause they worked their asses off in grade and high school. Who received academic scholarships because they were smart and workedfor it, yet they have to work their asses off like we do, beause they get nothing i while we pay for those who dont.
The only thing is they are female. And as we use that, because we can , what is that teaching them?
And there aren’t that many acedemic scholarships for middle class white girls,
Middle class’ cause we worked for It, and for what? To pay for all those who haven’t ?
Because they and we did everything right we get screwed? Its anot ok anymore and the rce e stuff means nothing to us,
My kids wont be ble to buy a house or rent one where we live now, where they grew up.
But they wil know why if anything I say resonates with them.
My husband has worked his ass off providing for our family and allowing me to stay home and raise our kids” and we sacrificed, when I had Togo back to cork full ime my family had to adjust, we didn’t get special treatment. It just was.
I would giv anything to still be a sahm even tho my kids are 16 and 14. Two oldest are in college, But it’s not possible no matter how we try.
I know what wwe sacrificed so forgive me if I’m not all that empathic about what others experience. Life is tough. Especially for those of us who dont have any minority standing.
Life is tough all around but far less than decades ago. My concern is what my kids have to deal iwith. What they have to pay for because of the color of their skin. They are white. Ad they are lying for that. No Matter how wrong that is to say.
I get that. I also get that for those of us in the middle class..it’s worse, for those of us who moved up so to speak our kids won’t be able to. They won’t be able to because they aren’t some protected minority. This is where I am and what I see. My concern isn’t about some so called minority who still can’t make it with all the opportunities handed to them on a firkin silver platter, My concern is my kids white kids, who attend college beause they worked their asses off in grade and high school. Who received academic scholarships because they were smart and workedfor it, yet they have to work their asses off like we do, beause they get nothing i while we pay for those who dont.
The only thing is they are female. And as we use that, because we can , what is that teaching them?
And there aren’t that many acedemic scholarships for middle class white girls,
Middle class’ cause we worked for It, and for what? To pay for all those who haven’t ?
Because they and we did everything right we get screwed? Its anot ok anymore and the rce e stuff means nothing to us,
My kids wont be ble to buy a house or rent one where we live now, where they grew up.
But they wil know why if anything I say resonates with them.
My husband has worked his ass off providing for our family and allowing me to stay home and raise our kids” and we sacrificed, when I had Togo back to cork full ime my family had to adjust, we didn’t get special treatment. It just was.
I would giv anything to still be a sahm even tho my kids are 16 and 14. Two oldest are in college, But it’s not possible no matter how we try.
I know what wwe sacrificed so forgive me if I’m not all that empathic about what others experience. Life is tough. Especially for those of us who dont have any minority standing.
Life is tough all around but far less than decades ago. My concern is what my kids have to deal iwith. What they have to pay for because of the color of their skin. They are white. Ad they are lying for that. No Matter how wrong that is to say.
I would love to be able to get a place with my parents. I’m really feeling the pull of conflicting responsibilities to my aging parents and my kids. A house with separate living areas would be great.
Separate living quartered would have been great. We didnt’t have that.
We do whq we want to do IMO.
I had four little kids when my dad we dying. It ws tough. I still don’t know how I did it, but I did, And when my mon moved in with us and needed 24/7 care...we did it. My husband and kids were wonderful and a huge help.
We take care of our own. It’s just the way it is, Maybe it was easy because my parents were so easy, idk. My dad was a Pita like me but so fun. My mom was just so easy all around.
You just take care of your perents no matter What. It was easy for me. My parents were the best parents, you just take care of family,
My oldest Brother is very illl. His longtime girlfriend is taking care of him right now, he may need 24/7 care, He may end up here. His kids won’t take him in,they don’t know the meaning of family,
Separate living quartered would have been great. We didnt’t have that.
We do whq we want to do IMO.
I had four little kids when my dad we dying. It ws tough. I still don’t know how I did it, but I did, And when my mon moved in with us and needed 24/7 care...we did it. My husband and kids were wonderful and a huge help.
We take care of our own. It’s just the way it is, Maybe it was easy because my parents were so easy, idk. My dad was a Pita like me but so fun. My mom was just so easy all around.
You just take care of your perents no matter What. It was easy for me. My parents were the best parents, you just take care of family,
My oldest Brother is very illl. His longtime girlfriend is taking care of him right now, he may need 24/7 care, He may end up here. His kids won’t take him in,they don’t know the meaning of family,
It’s nothing new to immigrants, and when they come, they ALL come. And there’s lots of us long time citizens that do it in some fashion. But I guess the headline is that it’s happening to a whole lot of people who would rather not do it.
I know it was just a TV show but to live like the Waltons is to give a meaning to life, there was a reason to get up in the morning, now life is just waiting for the next piece of crapola to come down the pike. We may live longer but we no longer live.
This tread is rapidly increasing. No one suggested this never happened in America.
Ok. I’m calling it.
Put the ipad down. No more posts until you get back to a keyboard.
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