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Family homes

Senior Contributor

Re: Family homes


@ImaPiratewrote:

If my parents were alive they would be living with me. I miss them dearly.


That was the sweetest thing I've read in a long time!  Made me cry cuz I totally get it!  Heart



Starting Score: 02/2015 TU 709 - EQ 676 - EX 729
Current Score: 12/2017 TU 779 - EQ 779 - EX 782
Goal Score: 850

Bury me in the garden...last app 07.27.17

Message 11 of 13
Moderator

Re: Family homes


@Kreewrote:


They say home prices outgrow wages by a 10:1 ratio. I make a bit less than my father did in the early 1990s, but the same house he bought for 220k is seilling for 800k.  Very depressing to consider that if the trend continues I might never afford a home.


I'm not sure of the exact numbers, but wages in real dollars have been stagnant (and the minimun wage has actually decreased), which housing prices have greatly outpaced inflation.   Yikes.  

 

I think mutli-generational housing is certianly more common these days, not only for economic reasons but also for cultural reasons.   Many cultures have traditionally had 3 generations living under one roof, especially as grandparents can be a tremendous help for parents (and vice versa).   So I absolutely agree that more people should be open to the idea.   Ultimately, it boils down to what works best for each family.  



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Message 12 of 13
Valued Contributor

Re: Family homes

I agree that multi-generational living is the way to go. We added a house to my parents original house and it has been a great arrangement. I pay 50% of the bills and mortgage so I don’t feel like a dead beat and they don’t feel as stressed over money. In a nearby neighborhood brand new houses are built with grandparents quarters included which to me speaks to the fact that more people are seeing multi-generation homes as an option.
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Message 13 of 13