Ah, the multigenerational household. Grandparents, their adult children and grandchildren all living under one roof. Social reformers have long called for a return to a time when the generations shared a roof.
Well, according to the Census Bureau, it’s happening. The number of multifamily households increased almost 12% from 2008 to 2010, reaching 15.5 million households or 54 million people. That’s the highest proportion since at least 1968.
Problem is, the upsurge largely reflects the Great Recession and Anemic Recovery.This sobering story illustrates how living togther under financial duress can lead to a lot of tension–especially in a small space.
Still, I’ve wondered whether an impact of the downturn will be that McMansions are voluntarily overhauled into multigenerational homes. The large square footage of a surburban McMansion makes no sense for a typical four-person household. But the economics dramatically change if you add in grandparents and maybe even the family of a sibling. It’s worth watching.
Beware buying a home from a divorcing couple
There are about one million divorces a year in the United States and in most cases, there’s a home that needs to be sold. That can mean great bargains, because couples divorcing — like those in foreclosure — are often among the most motivated of sellers, willing to accept offers below market value.
24Email Print CommentStill, house hunters may well pay the price in terms of aggravation and time when working with these sellers.
Hate your gift card? Swap to get one you really want
The Simple Dollar has a nice roundup of
The Simple Dollar Weekly Roundup: New Years Resolutions Edition 0
comments
Did you get a gift card for the Holidays? A lot of people did. But what if you don’t like the retailer the gift card is for? You can swap it for another gift card from a different store–for a price, of course. Here’s how.
You can often get a good deal buying a home from a divorcing couple. But is it worth it?
Caveat Emptor, according to this story.
There are about one million divorces a year in the United States and in most cases, there’s a home that needs to be sold. That can mean great bargains, because couples divorcing — like those in foreclosure — are often among the most motivated of sellers, willing to accept offers below market value.
Still, house hunters may well pay the price in terms of aggravation and time when working with these sellers.
The Simple Dollar offers a roundup of articles on New Year’s resolutions. You can learn why they’re so hard to keep and some sugestions on what to do about it.
Stories You Might Like
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
