Last year I listed a home as a short sale, and it was filled to the rafters with people; two households of extended family combined into one. Each family had children, and where there had been one set of bunk beds in each bedroom, there were now two sets. There was a cot at the end of the bed in the Master Bedroom, along with a crib for the newborn.
It was a difficult time in this family, as the owner's sibling lost his job and was forced to move in with his brother and family. I was short selling this home and the families were moving out, but to where? More job losses, more stress on families with homes as others were forced to move in is today's reality.
While not necessarily a common event, it was not uncommon either. I have had two or more couples who were related or longtime friends make applications to share a rental home I have listed. Reduced incomes and loss of work create a new definition of household. Housesharing is no longer a rarity in Florida.
This fact is being verified as Florida Realtors announced in their headlines "Census: Economy Put More People Under One Roof". The article states that the largest increases in Households are for renters in Florida and Tennessee.
When times were good in 2005, 27% of new homeowners were single women. Homeownership was readily available and loans were easy to procure. In today's times, recession, high unemployment and the housing bust now are forcing some people to double up. A family that lost its home to foreclosure may either rent or live with friends or relatives.
My generation has been called the Baby Boomers. My children's generation have been called "boomerang kids" who return after college. The percentage of young adults ages 19 to 29 who are living with their parents rose from 25 percent in 1980 to 34 percent in the late 2000's.
In the 1930's there was a phenomena called "The Return of the Nuclear Family". Today's phenomena is similar, and the census numbers are showing that "household" is not what it was ten years ago.
Keller Williams Realty Elite Partners
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Serving Florida’s Nature Coast * Hernando, Pasco & Citrus Counties