A new Census Bureau report shows an 11.4 percent rise between 2007 and 2010 in the number of adults sharing houses or apartments with family members and others, indicating that many people doubled up to survive the recession.
The number of adult children living with their parents climbed by 1.2 million to 15.8 million during that time, with the age 25-to-34 demographic accounting for 67 percent of the gain. This increase has contributed to a drop in household formation — which, had it continued at the pre-recession rate, would have translated into more than 2 million additional occupied properties.
While shared households had lower poverty rates than others, the Census Bureau says the poverty rate for doubled-up young adults would have topped 45 percent if only individual — not household — incomes were taken into account.
The author of this article is: realtormag.realtor.org
See the original post at: http://realtormag.realtor.org/daily-news/2012/06/22/more-americans-shared-homes-during-recession
At GayRealEstate.com, we keep you updated with all the gay realtor, lesbian realtor, gay realty, gay real estate and general real estate news affecting the LGBT community coast to coast, and in your neighborhood.
Click here for list of gay realtors, lesbian realtors and gay friendly realtors Nationwide.
If you have a real estate story that you’d like to share with us with the gay and lesbian real estate community, please contact us at: manager@gayrealestate.com
