Multi-generational Living Makes a Comeback #realestate #homeownership #finances

Source:  Realtor.com

It was the cycle that defined American life for decades.  People got married, bought a house, and started a family.  The kids grew up, left the nest, and didn't come back.  The empty nesters then downsized to a smaller place to enjoy their golden years.  Their kids eventually started families of their own, and bought their own homes.  And so it went.  Instead of the circle of life within a household, it was more like a straight line.

But in recent years, the line has begun curving again.  This entrenched societal pattern is becoming upended in favor of a mode of living that harks back to an earlier era.

Fueled by economic and cultural factors, a growing number of people are moving back in with their folks, or opening their homes to their aged parents.  It's a large-scale change making its impact felt in all corners of the real estate market - and American life itself.

Nearly 1 in 5 Americans is now living in a multigenerational household - a household with two or more adult generations, or grandparents living with grandchildren -  a level that hasn't been seen in the U.S. since 1950.  About 60.6 million adults, or 19 percent of the population, were residing with their family in 2014, according to the Pew Research Center's analysis of census data, up from 57 million in 2012.

Check out the full story here:
http://www.realtor.com/news/trends/multigenerational-housing-rising/

---