Rise of Multigenerational Home Owners

Green Escrow | Affordable Housing

A recent housing survey shows that 13% of home purchases were made by multi-generational households comprised of adult children, adult siblings and parents or grandparents. Needless to say, the major motivation for this type of purchase was cost savings.

More often than not the situation involved adult children moving back home. While high prices, low supply, and lingering questions about the economy have kept the number of first-time home buyers at the lowest level since 1987, younger adults are found to be much more mobile than older households and, thus, more likely to move “home” until their situation improves.