Many Americans Live in Multigenerational House to save more money.
By The Exchange Team
On the whole, multigenerational living is increasing and has been for several years.
As per a study based on census data from 1971 to 2021, the number of families with 2 or more adult generations has quadrupled.
According to this estimates, such households currently account for 18% of the US population.
Student debt and housing costs are the top reasons families are doubling up. Caregiving also affects decision-making.
In 2020, the number of kids living with their parents — dubbed "boomerang kids" — momentarily reached an all-time high.
The pandemic was a short-term rocket, but levels now are still well over 2019 — and it's been climbing for 50 years.
Men and those without a college degree have a higher proportion of young people living with their parents or grandparents.