2 days ago
- General
- Wall Street Journal
Yes, It Pays to Share a Home With Family. But Plan for Some Challenges, Too.
Whether it is college graduates taking over the basement because they can't afford to buy or rent, or grandparents seeking the security of family as they age in place, multigenerational households in the U.S. have skyrocketed. According to the Pew Research Center, between 1971 and 2021, the last year for which these statistics are available, the number of people living in multigenerational households quadrupled. The trend is driven by financial issues, the need for caregiving for both children and older adults, and delays in new household formation by young adults.
But despite the benefits of communal living, there are challenges as well. Twenty-three percent of adults in multigenerational households say it is stressful all or most of the time, and 40% admit it is stressful some of the time, according to Pew. That is why flexible floor plans that enhance privacy, a healthy respect for boundaries and candid discussions upfront among family members are key to the success of any multigenerational arrangement.
