(Published on - 7/8/2017 5:07:07 AM)
Does the Multi-Gen Trend Have Legs?,
from www.builderonline.com, reports that in a post-Great Recession landscape, particularly as the future of work and the soaring cost of healthcare invite such profound questions as they do, households are behaving in a way that shows how important family ties are to economic viability, mobility, options. Jobs and employment wages are still no doubt the most important source of income for our society's households. But paychecks are not the only financial knobs and levers families press and pull to navigate amid today's challenges.
With past as prologue, households composed of more than one generation of adults may direct us back to the future. This is why we believe multigenerational living--in its newly-evolved forms and formats--is more than a passing fad, but rather a sneak peek at new strains and streams of household normalcy. The most important reason primary homeowners say they seek multigenerational features and functionality in their homes is for financial assistance, meaning having more than one generation living under one roof makes a difference in the attainability of the home. A fairly close second ranked reason (42%) is physical health, which ties to the first insight, given that aging parents frequently have current or future health issues to deal with. We're guessing that the underlying financial factors that motivate families to want to stay in near proximity to one another are only strengthening as challenges surface around automation, robotics, data, and the future of work. The multigenerational living trend is only now getting a start. Stay tuned.