Multigenerational Households Are Up, Retail Sales Are Up

Comments

1
Obamacare basically codified MGHs by increasing the limits for offspring to be on parents health care to 26.

Eventually childhood will last to 40, and Social Security will start at 50. Leaving only 10 years of real work to do, per person.
2
Italian families coddle their babies and keep them at home until they're married, often into their 30s. Germans stress the independence thing, like Americans are prone to, and think something terrible is happening if your kids need you.

If you ask me, Germans seem unhappy and neurotic, and Italians seem to be at peace and enjoying life. Just compare the suicide rate between northern and southern Europe if you don't believe me.
3
For non-wasps, multigenerational housing is nothing new. Americans of Greek, Italian, Hispanic etc. descent see it is normal and practical. I wonder if this will change American culture so that families living together becomes less "ethnic" and more mainstream.

I could never live with my parents though. HELL no. (Love you, Mom!)
4
I could never live with my parents again either. The only way I would live with my parents again is if I really was homeless. If it was just pay check to paycheck or not beling able to go out as much. I just would stop going out so much or get a second job. I love being independent and have been since I was 18 and currently 27.
5
Actually, this trend has been going on for some time now. The peak of young people moving out young and living independently before marriage was some time in the mid-1980s. The trend of living at home longer, and multi-generational households has been increasing gradually for 20+ years. The economy has had some effect, but you can't lay this entirely on economic woes.
6
A lot of international business analysts are concerned the US is going into another banking derivatives bubble, actually.

But, yeah, stuff's getting way better.
7
I found my self jobless heading into last summer after my contract at work expired. That plus a growing issue with anxiety/panic attacks caused me to give in to my parents and move home for a few months until I got things handled. I went reluctantly and was kind of depressed that this is where I was at age 28. Soon after my attitude shifted though. Without rent to pay I was able to get my finances back on track and farm life + regular yoga helped me get my panic attacks under control so that I could learn to manage my anxiety. I also learned that my parents are pretty damn cool people. I've always known they were great parents, but it was nice to get to know them as adults rather than the rule makers. I think it was one of my best summers ever, spent growing veggies, riding my horse, and helping out with farm chores. I found out that I missed the hell out of country life and I think I need to move back to a farm someday in the near future.

I was always one of those people who said I'd never EVER move home, but in the end I don't think I would trade the experience for the world. I'm happy to have gotten to know my family in a new way and I'm happy to have discovered that living in the country wasn't such a bad way to grow up. In some ways I was pretty bummed to move back to the city... But at least I was able to bring a little of it with me in the form of 4 hilarious chickens!
8
I know there have been a lot of people hurt by this recession and I don't mean to minimize their losses, but has been fucking awesome for people who managed to hang on to a job (which is 90% of Americans) and not freak out and bail on the stock market. Every retailer on the planet has discounted products, hotels are practically free, contractors are begging to work on houses for almost nothing, and the Dow has jumped 57% since Obama took office. The buying power of most Americans (at least those who kept themselves out of huge debt) has actually increased.
9
People are buying more stuff because they've stopped paying their mortgages. Delinquencies are already at historic highs, and they're still rising briskly. Sooner or later, the big banks holding all those unpaid mortgages are going to have to foreclose and take a hit on their balance sheets, and it will be time for TARP II. But until then, we can keep partying like it's 2007.
10
9 ftw

Obama's "prosperity" is more of the shit that got us here- spending what we ain't got.
March foreclosures were an alltime high and the pipeline is stuffed.
The light Dan sees is an oncoming train...
11
A lasting one and maybe a beneficial one. Maybe more family unity will be brought about from this and the values and ties that have been lost in other generations like the X will be renewed and reinforced between today's young adults and their parents and immediate family members.
12
I'm surprised that Dan, (our much loved sex advice columnist), didn't go into the possible influence this trend might have on people's ability to forge their own sexual identities (i.e. a shift towards the conservative). Because when you break away from your parents, you are free to be yourself, and that's important, especially for sexual minorities who's parents might not approve.

Most people are saying this trend isn't just economic, but symptomatic of the preferences of gen Y kids who are closer to their parents and also more conservative. Gen X and the baby boomers were more rebellious.

In any case, it's time housing stock starts to reflect the new trend.
13
@9 wrong. See today's Washington Post etc about the fact that people are making mortgage payments and in default much LESS than since the Bush Great Depression started.
14
You're clearly not an economist, Dan: you actually make intelligent observations and conclusions about the way people behave and how that affects the economy.
15
@11 - Don't beat around the bush. The only "value" you care about is homophobic hate. Unfortunately, I'm guessing multi-generational households will be a lot more likely to result in LESS of this as it forces the older generations to deal with their bigoted shit.
16
@12 - Closer to their parents I've definitely seen, but conservative Y generation? That really doesn't fit with my observations. (BTW, I'm 26 so I'm an older "Y" myself.)
17
After a recent horrible break up, the loss of my job, and having to drop out of school, I am back in my mom's house for the first time in 4 years. Sex life is definitely down the tubes, since my mom's ultra conservative. She's almost treating me like I'm in high school again. But I'll deal until I can get my shit straight.

It's good to know I'm not the only one. :)
18
I'm with 12 and 17... Moving home after this downturn reminded me of how much I resented my family, and how much I want to move out in a few months. I seem to love my relatives a lot more when there's a couple hundred miles between us.

I don't know about the logic that 'living with family will restore lost values'. If anything, I understand more why I have the values I formed long ago in opposition to my conservative family.