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Parents and children cohabitating; An increase in intergenerational living

October 1, 2008

USA Today ran a story that talks about how more parents are moving in with their adult children. Recent census information cited in the story shows that the number of parents who live with their kids has risen 67 percent since the 1990s.

As a classic boomerang kid, I was fascinated by this bit of information.

Upon graduating from college I moved back home for awhile because I couldn’t afford to live on my own. A few years later, a friend and I moved into an apartment.

After about 18 months, my friend moved away. Once again, I couldn’t afford to live on my own, so I moved back home. I stayed at home for another 15 months or so before I finally moved out for good.

During that whole time I made many financial mistakes and learned many lessons. And my parents, being generous people, let me lean on them as I learned my lessons.

So, why the flip-flop in roles?

The article doesn’t entirely answer that question to my satisfaction, but it proposes two theories. One is that there are more immigrant families, and intergenerational living is more common in other countries. Another theory is that it’s just easier to share expenses.

Kids like me figured that one out a long time ago.

Increasing costs, stagnant wages and a general economic turndown are making things more difficult for everyone. And, an increasing number of people over the age of 55 are filing for bankruptcy.

In some ways intergenerational living seems like a great idea. In other ways there could be many downsides to this type of a living arrangement.

Clearly the shared expenses are going to be a big plus. If you have kids you have built-in babysitters. There are more people to share in the house work, thereby leaving more time free for other things.

On the flip side, a house full of people means a lot less privacy. There could be boundary issues, especially when it comes to child rearing. And if there are any family problems they would most likely be intensified with everyone in close quarters.

What are your thoughts about living with your parents or extended family?

Written by admin · Filed Under Misc. 

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