More People Are Sharing Homes — New York Real Estate

More People Are Sharing Homes

by John Tayeb on March 21, 2010

homes

About one in every six Americans lives in a multi-generational household, up 30 percent since 2000, according to U.S. Census figures and a study released Thursday by the Pew Research Center.

The study found that the economy is a primary driver of the trend, but there are other factors as well. Aging Americans are opting for home health care over nursing homes, and Hispanic and Asian immigrants come from cultures where multi-generational living is the norm.

The Pew study and an examination of census data by AARP concluded:

• The most likely multi-generational scenario is a parent who owns a home and shares it with an adult child and a grandchild.
• Older women are more likely than older men to live in a multi-generational household.
• The number of adults older than 65 who live alone is decreasing from 28.8 percent in 1990 to 27.4 percent in 2008.

Source: Associated Press, Hope Yen (03/18/2010)

Posted via web from New York Real Estate Access | Real Estate Blog

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