Mom and dad are moving in

by MPA20 Nov 2014
We've all read the reports about millennials moving in with their parents. But as these young professionals finally move out and form their own households, they may find that their baby boomer parents may soon coming knocking, according to the National Association of Realtors.

According to a study by The American Institute of Architects (AIA), 39% of the group's more than 500 residential architects surveyed said they were seeing a surge of demand for in-law suites this year. That's a significant jump compared to 2012 when the percentage stood at only 10%. Respondents said the suites may include a second master bedroom with a bathroom or an attached apartment-like structure.

“As many households become caretakers for aging relatives, separate living suites have become popular options for accommodations,” said Kermit Baker, chief economist for the AIA.

The AIA also reported that home features accommodating multiple generations and age-in-place features are growing in demand.

Six percent of U.S.-born seniors live with relatives, and the trend is growing. Approximately 25% of foreign-born seniors live with relatives, according to a survey conducted by the real estate site Trulia.

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