Baby boomers moving back home with mom and dad from the silent generation

[eridani]

And with millenials moving in with boomers, things should be nice and cozy.

http://www.doctorhousingbubble.com/baby-boomers-moving-back-home-baby-boomer-cash-home-buying-young-millenials-moving-home-california/

2 million adults live with parents in California and those 50 to 64 moving in with parents has surged.

ouse horny Californians try to avoid the overarching statistics starring them directly in the face. Many Californians are all hat and no cattle. We already know that many Millenials are moving back home with mom and dad because they simply cannot afford to rent or buy a home in the golden state. The golden sarcophagus with nice granite countertops is getting a little more crowded for baby boomers. A recent analysis actually found that many baby boomers as well had to move back in with mom and dad. No, they are not trying to save for a down payment or take care of mom and dad. The vast majority are moving in because of economic hardship. So much for the theory of pent up demand. The buyers of the last few years came from Wall Street, cash investors, foreign buyers, and house lusting people leveraging every penny they have to buy a home. So it is no surprise that more than 2 million adults are now living back home in the rooms they once occupied as teenagers. I actually dug up Census data and highlight why the flood of buyers is not materializing. This also points to more locked up housing units as boomers move in with those from the silent generation. Just more evidence highlighting the transformation of California into a feudal state and largely a rental focused market.

[1000words]

1. "The Recovery" is even better than we thought!

It's bringing families together.

[WinkyDink]

2. Really? People in their late 80's-early 90's are better off than their BB offspring? I don't THINK

so.

[enough]

5. Why not? That older generation is the one with actual defined-benefit pensions.

I'm 70, and the pattern with many people I know is that their parents were much better off in old age than we expect to be in ours.

[greymattermom]

3. They'll inherit the house

It's the only way to own one in California. They'll rent out rooms to make a living.

[pipoman]

7. Only if mom and dad don't need residential health care. .

Or they transfer ownership years before they do...

[In_The_Wind]

4. If I had a child I would welcome 'em home with open arms.

[pipoman]

8. We feel the same

Kids whether young or old loose their independence. ..it can be depressing.

[KittyWampus]

6. Historically, multiple generations living together was/is the norm.

However, look at what's happened after WW II.

Many women entered workforce in WW II for first time and afterwards, when men returned, they stayed.

Many households had double incomes in the 50-70's that didn't before.

Lots of new homes, suburbs were built.

For a short while, many household has those double incomes and did very well.

Many separate families had their own house.

Then, it became almost mandatory for double incomes to afford a house.

Now it seems double incomes aren't even enough.

Even if all the jobs that had been off-shored had remained in the USA, i wonder if there'd still be enough for all the men and women who want to work. You also have to factor in the constant stream of workers who aren't here legally taking jobs too. And the visa-workers taking tech jobs.

It's tough enough to get workers to stick together. Making things this hard economically makes competition between workers all too common.

You can point out Labor has been under onslaught for decades but I really think Labor has yet to modernize and figure out the way forward.

My intent isn't to blame Labor so much as wonder why there hasn't been an organized response to Reaganomics.

[Avalux]

9. I remember my grandfather talking about the 'homestead' and catching squirrels for dinner.

He was a teenager during the depression and lived with his family, along with grandparents, aunts and uncles and their kids in the same house. It was a big farmhouse, there were about 16 of them. They banded together and did what they could to get by - and yes, ate squirrel.