Multigenerational living, defined as a household that includes two or more adult generations, has become more common in recent years. According to the most recent Pew Research Center analysis of census data, a record 64 million people (20 percent of the U.S. population) lived in multigenerational homes in 2016—up from 60.6 million Americans (19 percent of the U.S. population) in 2014 and 51.5 million Americans (17 percent of the U.S. population) in 2009. Why multigenerational living is on the rise Shifting economic circumstances, an increase in cultural diversity, and evolving lifestyles of older Americans are just a few reasons why families are embracing this type of living arrangement, but perhaps the biggest reason that’s causing this shift is the lack of affordable housing and housing availability in this country. The housing market As we all know, the housing market is a giant migraine right now. In March, home prices rose 8.9 percent over the same time a year ago while …
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