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 ...
I think people would buy big homes hoping to have big families, and sometimes they did and sometimes they didn’t, but either way, once the kids left the nest, or if there was a loss of the breadwinner, you could set up shop as a boarding house. So it was kind of like insurance, in a way.
This is a good time to take India seriously, where almost everybody is poor, but they are happy, and there is very little crime.
Thank you, I feel validated. :)
Our home too.
Lol! Still on iPad and I agree with you. This touch screen thing is hell for me.plus I don’t know how to do caps or or anything else.
Dell tech was here today. She installed the new hard drrive. For free since laptop is is abt 6 mos old. And she confirmed that it was a bad hard drive and I didn’t do anything wrong. I was happy abt that! Made sure I mentioned that to my husband. Numerous times.
I am hoping by the wknd that my husband has my laptop all set up. I need a hard keyboard and not this touch screen one. Guess this makes my decision abt my new cell phone easier. I can get a free iPhone but it’s all touch screen and I suck at that.
It’s interesting discussing this topic. Bear with me on my touch screen issues lol.
I lived at home...lived away at college...but moved right back home once I graduated college. Lived at home until I got married. It was just the way it was done in my family and in my area. My husband moved out when he was 18 to attend college and never moved back. He was made to be completely financially independent when he was 16 or so so that was normal for him. He knew he could never go back. When we met and dated in college and my family became his...he knew he could always have a home there.
It’s funny. He thought me living at home after living away T college then living home during grad school until we got married was odd. No one he knew lived at home whereas everyone I knew lived at home until they got married. Mostly not every single person.
But with our girls he would like all of them to live at home forever. Lol.
The topic is just something that was considered normal in my family. You move out if you get a job in another state but you basically live at home until u get married and even then the door is always open.
My parents loved my husband. They loved that I got out of our neighborhood...the city in general.
I hope my kids get jobs once they graduate college but I also hop they live close enough for us to be a huge part of their lives Ana’s the door is always open for them. This is their home. No matter what.
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