Brave New World? 64 Million Americans Live In Multi-Generational Households

The old America we knew, where living standards more than doubled each generation, has ceased to exist as new evidence suggests the percentage of Americans living in multigenerational households is at its highest since the post–World War II economic expansion.

Heavily indebted Americans are readjusting to a deterioration in living standards. Many of society’s lower-income consumers have already reshaped their lifestyles — towards living in a home with at least two adult generations. In other words, more Americans than ever in the last half-century are returning to their parents’ basement.

According to a new Pew Research Center report of census data, a record 64 million Americans, accounting for some 20 percent of the total U.S. population, lived in multigenerational family households in 2016, representing a three-decade continuous progression in this type of household formation — despite government propaganda that indicates economic improvements since the Great Recession.

After the early 1950s, living in a household with multiple generations experienced three decades of declines from 21 percent to a low of 12 percent in 1980. A noticeable bounce was seen in the early 80s, representing an unfair low, and since, the percent of Americans in multigenerational households has increased steadily.

During the financial crisis of 2007–2008, a noticeable surge in Americans migrated to multigenerational households. Pew explains below:

“In 2009, 51.5 million Americans (17% of the population) lived in multigenerational households, according to data from the U.S. Census Bureau’s American Community Survey. In 2014, 60.6 million Americans – 19% of the U.S. population – were part of multigenerational homes, according to the last major Pew Research Center analysis of this data.”

The study found that young adults [millennials] are the age demographic that is most commonly transitioning into multigenerational homes.

“In recent years, young adults have been the age group most likely to live in multigenerational households (previously, it had been adults ages 85 and older). Among 25- to 29-year-olds in 2016, 33% were residents of such households.

Among a broader group of young adults, those ages 18 to 34, living with parents surpassed other living arrangements in 2014 for the first time in more than 130 years.

Education levels make a difference, though: Young adults without a college degree now are more likely to live with parents than to be married or cohabiting in their own homes, but those with a college degree are more likely to be living with a spouse or partner in their own homes.”

Asians and Hispanics have a higher probability than whites to live in multigenerational households. Across all U.S. racial groups, multigenerational household formations surged after the great recession. Pew attributed some of the multigenerational households increases on broadening ethnic diversity in U.S. population.

“Growing racial and ethnic diversity in the U.S. population helps explain some of the rise in multigenerational living. The Asian and Hispanic populations overall are growing more rapidly than the white population, and those groups are more likely than whites to live in multigenerational family households. Another growth factor is that foreign-born Americans are more likely than those born in the U.S. to live with multiple generations of family; Asians and Hispanics are more likely than whites to be immigrants.

Among Asians living in the U.S., 29% lived in multigenerational family households in 2016, according to census data. Among Hispanics and blacks, the shares in 2016 were 27% and 26%, respectively. Among whites, 16% lived with multiple generations of family members.”

And finally, Tom Chtaham via Project Chesapeake, who specifies in the “next great financial crisis” many Americans will see their living standards ratcheted down once more. What does this imply for the trend in multigenerational households? Well, you guessed it, the next boom is coming…

“Very few Americans have any significant savings today. Most live on credit and those with savings have it stored in financial instruments that will be wiped out as the bankers collapse the system to hide the theft they have been involved in for decades. Those who think they will retire with their IRA, pensions or social security will suddenly find them all gone never to return leaving them with no means to care for themselves.

The west line has moved to Asia. This means that North America is no longer the shipping center of the world. The consequences of this for Americans will be disastrous. This means our economy in the future will be smaller and slower and will result in a standard of living far below what it currently is.

Those that own very few assets free and clear will become the new homeless as they become jobless and default on all of their credit obligations.”

Comments

FireBrander DillyDilly Thu, 04/12/2018 - 18:27 Permalink

$40,000 is the local average household income...nothing is, or even can be, built new around here for less than $250,000..That's a $2000  monthly payment = 60% of your gross income.

To get it down to 30% of your income, you have to buy a shitty house, in a shitty neighborhood , with shitty schools.

Elderly parents unable to live alone? $5000/month easy for a shitty care facility.

Many more reasons for multi-gen homes.

In reply to by DillyDilly

Giant Meteor FireBrander Thu, 04/12/2018 - 19:11 Permalink

You see, you gotta love the asshats whom complain about all that unpayable debt and mal investment, rigged markets and e con omies, extreme valuations on nothing, incentives, disincentives, and yet fail at basic logic unable to put together cause and effect ..

I mean heaven forbid these selfish little bastards fuck up mom and dad's reverse mortgage plans ..

It is important however to know thine enemy, and in terms of ranking, I'd say those snotty little shits are far down on the list ... if you're catchin my drift .

The sons of bitches been mislead, sold down the river six ways to Sunday, I don't say this to make excuse. Simply an observation.

Believe me, the topic of this article is a topic of discussion for many folks, who "just can't understand." Well, when one retires on a full government pension, fully funded health care and the like, well no shit, they won't understand ..

So stop all that fuckin cryin about trillion dollar deficits and unpayable debt, threats of nuklar annilation and shit. Just embrace the fuck and play pin the tail on the donkey until such time everyone's ship is sunk ..

Fuck ..

In reply to by FireBrander

Give Me Some Truth FireBrander Thu, 04/12/2018 - 21:16 Permalink

This story reveals much about the true state of the American economy. First, the wife had to go to work to make ends meet. Now, the grown kids (and retired parents) must increasingly live at home. I hope this story/study gets the attention it deserves. The up-tick in the numbers and percentages of multi-generational families is striking.

In reply to by FireBrander

brushhog DillyDilly Thu, 04/12/2018 - 19:02 Permalink

The average house size today is around 1800 sq feet. In 1960 is was 900 square feet. So this idea that things are getting so much more expensive and it's so much harder to live is somewhat exaggerated. You want a 2000 sq foot home all to yourself on one income? Thats going to be very tough to pull off, and you know what? It always was.

In reply to by DillyDilly

AGuy brushhog Thu, 04/12/2018 - 19:59 Permalink

"The average house size today is around 1800 sq feet. In 1960 is was 900 square feet. "
What the going price for a 900 sqft home in San Francisco? $900K?

in 1960's had Single worker paying the mortgage while the women stayed at home to raise the kids. Then in the 1970's Mortgage rules changed to in able two person income. So if two people are paying the mortgage they could afford a 1800 sqft home.

In reply to by brushhog

RAT005 AGuy Thu, 04/12/2018 - 21:32 Permalink

I can give exact numbers.  1,800 sq. ft. built in plain Chicago suburb in 1967 was $27K.  House now worth a little over $250K.  Hundreds of homes built in the X-cornfield development.  Most were 1,600-2,000 sq. ft + many unfinished basements.  About 20% were ~1,000 sq. ft.

In reply to by AGuy

DillyDilly nachtliche Thu, 04/12/2018 - 20:25 Permalink

I just don't see it that way anymore...

 

I lived in Italy for 12 years (& during the years that I was 30 to 42)... Businesswise, I was intertwined with an Italian family... Father/MOTHER both 20 years older than me... SON/DAUGHTER both 10-15 years younger than me...

 

The grandparents of the FATHER/MOTHER lived in the same household as well... The Grandfather was actually a GENERAL in the Italian army that fought against my own grandfather during the amphibious landing from Lucian Truscott at Brolo in Sicily... He & I became best friends... He was almost 90, but brewed his own wine... I was the only one who liked it and drank it EVERY SUNDAY when I went to lunch at their household...

 

I always brought the cakes & desserts to the lunch... They're some of the fondest memories of my life... My mother is now happy that I feel this way because I treat her in the same way...

 

It's not my business to tell anybody else how to organize their lives... But as far as 'FAMILY' is concerned ~ Don't knock it until you try it out...

In reply to by nachtliche

DillyDilly ThinkerNotEmoter Thu, 04/12/2018 - 18:37 Permalink

Some would say that the best way for 'snowflakes' to pay for YOUR cherished & selfish retirement would be to:

 

- move back in

- work & pay the bills of that household & bump the relatives up or down into different rooms that sometimes needed to be 'add on's' to the house itself & in the process, not WASTE unneeded food or energy consumption

 

I lived in Italy for a dozen years and that's basically how they accomplished it (without a FEDERAL RESERVE paying for your ignorant 'sarc ass' horseshit in the process)...

 

& fuck you if I'm interested in paying for your DRUGS or healthcare... Do us ALL a fucking favor & DIE!

In reply to by ThinkerNotEmoter

DillyDilly Giant Meteor Thu, 04/12/2018 - 19:06 Permalink

@GM ~ I voted for you, so I'm a constituent...

 

As a constituent, my plea is to abolish government pensions, universal health care, and social security...

 

or ~ phase it out and move forward with something else that involves personal responsibility...Not that that's gonna ever happen because the VERY JOB of government is to get you to depend on THEM...

In reply to by Giant Meteor

AGuy truthseeker69 Thu, 04/12/2018 - 20:03 Permalink

"I love all the Millenial blame game that gets toss around esp by government dependent boomers. "

Ha! I hate when I have to deal with a millennial, They are terrible at providing service. Have a question: they won't answer or give the wrong information, Need help, they give the run around. They just don't give a crap about anything. FYI: I am not a Boomer.

In reply to by truthseeker69

Giant Meteor truthseeker69 Thu, 04/12/2018 - 21:15 Permalink

My understanding the gen x'ers hate the millenials too. Something about GEN X realization setting in regarding their own mortality, you know, the ole times runnin out, what I fucked up, let me start counting the ways sorta thing ..

Damned if I know, other than everyone apparently needs a good whippin boy, girl, dog or whole other generation vent their frustrations.

The blame game, excuse makin scape goatin deal isn't particularly new, or insightful.

On the other hand it does provide a great opportunity to avoid meaningful dialogue, causes, conditions, and most importantly, personal introspection ..

So I guess that's a win !

In reply to by truthseeker69

JustPrintMoreDuh Thu, 04/12/2018 - 18:45 Permalink

It has to be this way so that the top (.000000001)% or ~ < 10 individuals on planet earth can have greater wealth than ~ 1/2 the rest of the planets population ... 

baaaaaa