Family dynamics are changing: instead of millennials moving in with their parents, their parents are increasingly moving in with them, and the pandemic is accelerating that trend.
Pew Research Institute found that older adults are more likely to be living with their grown children today than they were thirty years ago.
Baby boomers watched as their parents enjoyed hearty retirement and pension benefits and lower health care costs, but now many Americans who worked all their lives still don’t have enough money to retire.
Multi-generational housing: A study in October 2019 found that half of today’s workers will not have enough savings to sustain their standard of living when they retire. Enter in a global pandemic, and millions of Americans are now unemployed far sooner than they planned, with little savings to sustain themselves.
So, many millennials might want to dust up their guest bedroom, because mom and dad could be here to stay.