More Americans Shared Homes During Recession
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.
Source: “Millions More Shared Homes in Face of Recession,” Washington Post