The NewsNation — According to a Pew Research Center survey, multigenerational living is becoming more common among families of all ages during the past five decades as a result of inflation and high housing expenses.
According to research, 1 in 4 American people between the ages of 25 and 34 lived in multigenerational families in 2021, up from 9% in 1971.
While most of these young adults are the ones who are returning to live with their parents, a growing number of parents are starting to move in with their young adult offspring.
Richard Fry, a senior researcher at Pew, told the Wall Street Journal that a significant number of older adults are moving in with millennials.
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As of 2021, the number of people ages 25 to 34 heading the household grew by 6%, the Pew Research Center report said.
The new trend is being called the “reverse-boomerang effect.”
The move is meant to save money during a time when inflation and high housing costs have become debilitating to many Americans. Plus, having an older adult in the home opens up the possibility for affordable child care there.
A Florida woman who asked her dad to move in with her to help with the kids and her online company was interviewed by NewsNation. The shared living situation has so far been advantageous for both sides.
Six months ago, Dan Kane drove 36 hours from his home in Arizona to live with his daughter Darin Nicole and her family.
Kane hailed it as one of his best choices ever.
“Seeing my daughter and my grandchildren every day is more than I could ever wish for,” he said.