Something that got a kickstart about a decade ago with the onslaught of the Financial Crisis, has continued to trend ever highward. The number of U.S. households with multiple generations living under one roof now surpasses numbers from anytime dating back to the Great Depression.
Pew Research Center reports that 19% (or nearly one in five households) are multi-generational with more than one generation of adult family members taking up residence. Over 60 million of us now live in a multi-generational household.
28% of Asians live in such households as compared to about half that number of whites. Blacks and Hispanics fall in between. The really big change has come from younger people. In 1940 63% of seniors lived with younger family members. Now that number is 24%. On the other hand, 31% of those aged 25-29 live with another generation.
Those numbers are adding value to houses that can effectively accommodate multiple generations. If you’d like to explore maximizing your own personal value buying or selling one of these homes, just give me a call or text.
To catch other timely blog posts, simply go to www.indyschoicerealestate.com. And be sure to keep in mind… “I work harder to make good things happen!” -Bob
P.S. If you hear of friends or co-workers talking about buying or selling a house, please put them in touch with me. Thanks!