Real estate agents make great brokers. Take the next step in your career with Allied's Real Estate Broker License Courses. Be prepared to assume a management role in a real estate office as you oversee the entire real estate process. Receive a high-level of knowledge that includes advanced real estate practice, law, finance, appraisal, economics, property management, escrow, and/or real estate office administration.

After dwindling to just 12 percent in the 1980s, the multi-generational family is now once again on the rise. In fact, as of 2008, 49 million Americans, or 16.1% of the total U.S. population, lived in this type of household.

Based on an analysis of census data from the Pew Research Center, a multi-generational family household is defined as a household that contains at least two adult generations or a grandparent and at least one other generation.

Why the surge in multi-generational family households? The Pew study cites these main factors:
- job losses
- home foreclosures
- demographic changes

From the 1940s to the 1970s, there was rapid growth in the number of nuclear family-centered suburbs, a smaller immigrant population, and a rise in the health and economic well-being of adults ages 65 and older. Today, the multi-generational family household is having a resurgence, which Pew attributes to both social and economic reasons above.

Does this signal a potential increase in real estate opportunities? There may be an increased need for larger-sized homes that can accommodate a greater number of people. Also, multiple sources of income may make it easier for people to qualify for homes. Conversely, job losses and foreclosures may lead individuals to move into another family member's existing residence. We'll have to wait and see how this trend affects the real estate landscape, if at all.

Posted by Heather Brunson @ 4:04 PM • 0 comments