Housing Crisis Bringing Families Closer Together

In 1915, the average number of people sharing a home, including parents, offspring, and "extended squatters," was 4.5, according to a 2006 MSNBC.com report citing U.S. Census Bureau data. By 2006, that number had shrunk by nearly half to 2.6.

One reason for the decline, the article noted, was the fact that Americans had gotten much richer through the course of time, allowing young adults and others the luxury of going off to create a nest of their own.

Now, though, with economic conditions staging a dramatic turnabout, some reports suggest we could be seeing a reversal of the long-term demographic trend. In "More Families Move in Together During Housing Crisis" USA Today gives us the latest.

Love isn't all that's keeping family together today. The bruising housing market is, too.

Last year, Kanessa Tixe's dad had just finished building a three-family house when he lost his superintendent job in February. He wasn't sure how to make the $5,000-a-month mortgage on the new house in Queens, N.Y.

So Tixe and her siblings decided to help out in an unusual way: They moved in. In December, her father moved into the first floor; her stepsister and husband moved into the second floor; and her stepbrother and Tixe took the third floor. The entire family has become roommates, banding together to pay rent and help their dad with the mortgage until he finds long-term tenants.

"We're still living there now. Times are rough," says Tixe, 26, a publicist. "It's been very beneficial that we're all together. My stepbrother and I have a wonderful relationship now. We eat together for dinner, and I've become closer to my dad, too. This is an important time for family to help, the way the housing market is going. Our story is a testament to how families should come together to help with a mortgage."

The weak economy — which has brought surging foreclosures, sinking property values, vanishing home equity and mounting job losses — is playing a major role in family dynamics, pulling relatives under the same roof to pool their resources and aid relatives who've lost their homes.

Comments

[2houndz]

Hmmm... If the choice is moving in with my Sister or living in a box under the freeway, I might just take the box.

2009 Feb 05 08:52 AM

[notsosmart]

its a nice story. all have their own space.not so for most situations resulting in more families in crisis.a lot of people got used to a lot of personal space along with their granite counter,hummer & vacations.

2009 Feb 05 10:45 AM

[Gedankonomist]

"In 1915, the average number of people sharing a home, including parents, offspring, and "extended squatters," was 4.5, according to a 2006 MSNBC.com report citing U.S. Census Bureau data. By 2006, that number had shrunk by nearly half to 2.6."

Add to that the fact that back then homes were around 1000 sq ft and today we have these oversized jumbo cookie-cutter mcmansions (with 3-car garages which dominate the facade, averaging around 2500 sq ft or more with bedrooms for each child so they can spend time isolated playing violent video games or watching porn on their computers while they're not in a gov't school getting brainwashed), we've gone from 0.0045 people per square foot to 0.00104 people square foot, a 77% decrease in population.

2009 Feb 05 11:18 AM

[phdinsuntanning]

shorting IYR I guess?

2009 Feb 05 11:39 AM

[Dirk McCoy]

If the money supply isn't increased enough to create inflation and devalue the dollar soon, you're not only going to see families share homes, but businesses too.

I can't imagine what will happen to the commercial real estate market when we start going to the neighbors' to get our cars serviced, taxes done, and dinners cooked...

2009 Feb 05 04:17 PM

[bigmoney]

will ex-husbands be moving back in with their ex-wives, and then inviting their step-parents, half-sisters, step-children, and illegitimate grand children to move in as well?

2009 Feb 05 05:08 PM

[Ebi]

Isn't sad that you have to wait until a crisis to bringing families closer together?

2009 Feb 07 05:08 AM