One of my past blogs from November 2012, “Boomerang Grads Returning Home to Live...Housing Dynamic Has Changed”, discussed the growing trend of multi-generational families living together in one home. Apparently, this trend is still going strong post-recession period. I have included two interesting articles that source the Census data from the Pew Research Center.
All in the Family Home: Record 57 Million Americans
Living in Multi-Generational Households
By Laura Meckler I July 17, 2014 I Wall Street Journal
“Driven by young adults, the share of Americans living in multi-generational households continues to climb, a new report released Thursday finds, a trend that accelerated during the recession but has extended beyond it.
A record 57 million Americans—or 18.1% of the population—lived in multi-generational households in 2012, according to an analysis of Census data by the Pew Research Center, a think tank. The rate, up from 17.8% in 2011, has been on a steady march upward since its post-World War II low in 1980, when just 12.1% of the population utilized these arrangements.
“After three decades of steady but measured growth, the arrangement of having multiple generations together under one roof spiked during the Great Recession of 2007-2009 and has kept on growing in the post-recession period, albeit at a slower pace,” Pew found.”
Read More: Wall Street Journal Article
Young Adults Stay at Home as
U.S. Multigenerational Living Rises
By Victoria Stilwell I July 17, 2014 I Bloomberg News
“Young adults are more likely than any other cohort to live in multigenerational homes, exceeding even the elderly -- who have typically held that distinction, according to the report. Some 23.6 percent of those 25- to 34-years old lived with multiple generations in 2012, compared with 22.7 percent of Americans 85 and older.
Of the young adults in multigenerational homes, 80 percent were residing with their parents. Within the cohort, men are “significantly” more likely than women to be living with multiple generations, which is different from most other age groups.
The rise in multigenerational living also comes as racial and ethnic minorities, who are more likely to reside in such arrangements, make up a growing share of the population.”
Read More: Bloomberg News Article
All Images Courtesy of: www.freedigitalphotos.net
To search an entire database of homes for sale in real-time with photos, descriptions, and community information, please visit my website: www.premiermarylandhomes.com
Rick Reed, G.R.I., CDPE- Certified Distressed Property Expert
Assoc. Broker/Owner "The Congressional Team" RE/MAX
Licensed in MD & Wash DC
8937 Shady Grove Court
Gaithersburg, MD 20877
Office: 240-403-0399 X306
Can I help a friend or family member with their Real Estate needs? You can count on me!