Who’s moving in? Adult kids, aging parents
By Haya El Nasser
16 October 2012 (USA TODAY) – Almost a third of homeowners expect their grown children or aging parents to eventually move in with them, according to a survey by one of the nation’s largest home builders. About one in seven say they already have a “boomerang kid” – an adult child who moves back home – or elderly parent living under their roof. The survey out Wednesday of more than 1,000 homeowners by PulteGroup, builder of everything from starter homes to upscale residences and Del Webb adult communities, shows that the rise in multi-generational households may continue. “It’s an enormous change,” says Stephen Melman, director of economic services at the National Association of Home Builders. “I remember when I was in college, no one wanted to be near their parents.” A Pew Research report earlier this year showed that the share of Americans living in multi-generational households is at its highest since the 1950s. Young adults ages 25 to 34 are most likely to return to the nest. Almost 22% of young adults were living at home in 2010, up from 16% in 2000 and rising the most since the recession that began in 2007 and technically ended in 2009. Average family size has gone up more than 3% since 2000, largely a result of tough economic times. The rise in immigrants from countries accustomed to several generations living together also pushed the number. […]
