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Asset Preservation Advisors




City:Atlanta

State: GA



BIOGRAPHY:
APA’s philosophy is to work closely with our clients to develop an in-depth understanding of their unique needs and objectives. We then customize a municipal bond portfolio that best meets their specific goals and needs. APA manages high quality municipal bond portfolios in four strategies: Short-Term, Intermediate-Term, High Income, and Taxable.

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Millennials Drive Surge in Multi-Generational Households

By 2012, roughly one-fourth of Millennials ages 25-34 (23.6 percent) lived in multi-generational households, up from 18.7 percent in 2007 and 11 percent in 1980.  

| BY Donald Liebenson


 

An unprecedented 57 million Americans or 18.1 percent of the U.S. population, lived in multi-generational family households in 2012, double the number who lived in such households in 1980, and Millennials have been driving this trend, a recent Pew Research report based on U.S. Census data finds.

By 2012, roughly one-fourth of Millennials ages 25-34 (23.6 percent) lived in multi-generational households, up from 18.7 percent in 2007 and 11 percent in 1980.  

The arrangement of multiple generations together under one roof surged during the 2007-2009 recession and has continued to grow, but at a slower pace after steady but measured economic growth, Pew reports. But the economic collapse resulted in a large loss of employment for Millennials. The unemployment rate for these young adults is 15.2 percent, more than double the national unemployment rate of 6.1.

Historically, it is America’s seniors who have been the age group most likely to live in multi-generational households, but Millennials have surpassed older adults in this regard, Pew notes. In 2012, 22.7 percent of adults ages 85 and older lived in a multi-generational household, just shy of the 23.6 percent of Millennials in the same situation.

Among Millennials, men are significantly more likely than women to have returned to the roost. In 2012, the Pew report states, 26 percent of men ages 25 to 34 were living in multiple-generation households, compared with 21 percent of their female cohorts.

The “boomerang children” phenomenon, Pew concludes, “may be another manifestation of their delayed entry into adulthood.” Millennials are marrying, buying homes and starting families at later ages. The challenging job market has compelled many to stay in school longer.

Reportedly half of recent college graduates are either unemployed or under-employed, which is also compromising their ability to live independently. Not surprisingly, unemployed Millennials are much more likely to live in multi-generational households than those who have jobs, Pew research finds.

Related story: Boomerang children—Many happy(?) returns



About the Author


Donald Liebenson

dliebenson@millionairecorner.com

Donald Liebenson writes news and features for Millionaire Corner. He has been published in the Chicago Tribune, The Chicago Sun-Times, The Los Angeles Times, Fiscal Times, Entertainment Weekly, Huffington Post, and other outlets. He has also served as a marketing writer for Chicago-based Questar Entertainment and distributor Baker & Taylor.  

A graduate of the University of Southern California, he is married with a college-age son. He also writes extensively about entertainment.