Family trends may drive housing decisions...

From the Web-based newsletter IconoWatch by Iconoculture.com comes this story –

Chalk up another emerging trend to the lingering recession: 1 in 10 U.S. youngsters now lives with a grandparent, according to a Pew Research Center study (Washington Post 9.10.10).

The number of grandparents acting as caregivers rose gradually throughout the decade, then spiked sharply after December 2007, when the recession officially started. One reasons cited by analysts is that adult children are leaving the home for career retraining or to look for work in other locales.

White grandparents were most likely to be enlisted as caregivers. Their ranks rose 9%, as opposed to 2% for blacks and no change for Hispanics.

A previous Pew study noted a recession-linked spike in multigenerational U.S. households. So if it’s not just the grandkids it likely that the whole extended family is living together.

It’s also not unusual for ethnic families from many Eastern European and the Middle East to have multiple generations or extended families living together – it’s just a normal part of the cultures.

Whether it's boomerang kids moving back home or grands stepping in as 'rents, the recession has redefined "normal" family life. Companies looking to reach today's consumers need to understand the changing needs of multigenerational households.

From a real estate point of view this might mean that the older generation will be looking for a bigger house, so that the entire family will fit. I’ve certainly hit that myself with clients. Some times these families will look to buy multiple homes right next to each other, so that they can spread out a bit, but still be close together. Whatever the need – more space to accommodate grandchildren or lots more space to house an extended family, I can help – give me a call.