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.
We know of 4 families that now have extended family living with them.
You knew this was coming in a big way.
I see no problem as long as everyone contributes and helps out. It’s reaching a point where in most cases, there is no longer a choice.
The US is turning into a poor country. We are soon going to look like China or Korea from 25+ years ago.
New? New??? When was it ever NOT like that, except maybe for the briefest period of time after, say, 1960?
Sheesh, the news “media” is getting lamer and lamer.
Coming??? It always was!
Yeah, things suck, but this isn't an indicator of it.
Back to the future - or would that be ‘Forward to the past’??
Prepper Ping....
The not-quite-as-new American household: 3 generations, 1 welfare check, 1 public housing rat hole, 4 grams of crack, 15 bottles of malt liquor, 2 AK-47’s, 5 outstanding warrants, 27 stolen lottery tickets, 0 live at home fathers, 5 pairs of $200 designer sneakers...
...and a partridge in a pear tree.
You bet, and it’s now here.
These number below tell the story.
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.
I know of people who’ve redesigned their homes, doing the work themselves, to accommodate family.
Times are tough, and it’s going to get tougher.
Try reading Larry.
This and other sources say this trend is rapidly *growing*, and we’ve seen this among friends just within the past two years or so.
Back to the past and this is not the only such changes we are going to be seeing. Hand me downs, scenod-hand stores, actually mending things instead of just throwing them away, eating at home.....
Back to the past and this is not the only such changes we are going to be seeing. Hand me downs, scenod-hand stores, actually mending things instead of just throwing them away, eating at home.....
A return to the pre-WW-II culture of “The Waltons.”
You seem totally detached from reality, suggesting this is only happening to those living in the ghetto.
Trust me, this is happening everywhere, including your neighborhood.
Yep. It is a survival mechanism in tough times. Those times are here. See, Obama is bringing America together! / sarc
If I built such a house I would put in one kitchen and one or two mini-kitchens so say grandma and grandpa can cook their own stuff sometimes. Or maybe grandma likes her own space so she cooks some great old timey stuff in her mini-kitchen and brings it down for all to eat. Or can make cookies in her own oven for the grandchildren.
Obviously bathrooms are another thing you’ll need at least three of
We’re all becoming more equal under 0bama!
This used to be the norm
Maybe elsewhere, but with two bedroom apartments going for $2000/mo and up around here, we have three generations, no welfare checks, no public housing, no crack, no alcohol, an undisclosed number of (legal) firearms, no wants nor warrants, paid-for lottery tickets, dads at home when they aren't working, and mmostly workboots, (no designer sneakers).
The trees are out back, and bear fruit in a good year--no partridge, though.
It isn't as bad as it has been, one daughter got a job which provides housing for her and the rest of her family.
Fixed income renters were hit hardest by the boom here (elderly, retired). Those who owned their homes have often sold for multiples of what they would have received in a 'normal' market, or are renting and living off the rent money elsewhere...
It isn't always a 'subsidized' situation, and I expect there will be more before there is less.
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