Morning Briefing: Multigenerational households reach record level

by Steve Randall15 Aug 2016
Multigenerational households reach record level
A record number of Americans are living in multigenerational households according to new analysis by Pew Research Center.

Based on 2014 figures, the data shows that 60.6 million people (19 per cent of the US population) live in households with at least two adult generations, or one that includes grandparents and grandchildren.

The number of multigenerational households is increasing among all age groups, men and women, and nearly all racial groups. This kind of living was at its lowest in 1980 (12 per cent of the population) but is now nearing its record high of the 1950’s (21 per cent).

Pew says that some of the growth in these households can be explained by growing racial and ethnic diversity where multigenerational living is more common.
 
Confidence slides among New York real estate brokers
Concern over the New York real estate market continues to hit confidence among the city’s brokers.
The Real Estate Board of New York’s Broker Confidence Index shows reduced sentiment in both residential and commercial markets in the second quarter of 2016; the index has been sliding since the fourth quarter of 2014.

Commercial brokers in particular are concerned about the impact of a change in political direction domestically but also growing global concerns. They fear that faltering economies in Europe and China could mean trouble ahead for US commercial real estate.

For the residential sector, brokers report that domestic buyers are anticipating a fall in prices, precipitated by caution among foreign buyers. That expectation of deals is delaying purchases.
 
Golf pro Jeff Sluman lists Chicago mansion
Jess Sluman, winner of the PGA Champion 6 times, has listed the home he built with wife Dr Linda Sluman a decade ago.

The Chicago mansion with 5 bedrooms and 8 bathrooms is listed with Ginny Stewart of Village Sotheby’s International Realty at $4.35 million, down from an original asking price of $4.75 million last year.

Mansion Global reports that the home has some special features including a home theater, wine cellar and bowling alley. There is also something of a niche feature, a trophy room.

The couple are selling up and moving to South Florida now that their daughter, who currently lives at home, is heading to college.
 

COMMENTS

  • by NoSpinJustFacts | 8/15/2016 9:00:53 AM

    The reaching of near record multi-generational households is due to home affordability being at record lows, not racial and ethnic diversity. The United States has long been a population made of racial and ethnic diversity.

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