Living With The 'Rents
Hi! Welcome to my open house. I just want to let you know my client already accepted an offer."
Wow, that property was only on the market for 3 days...
"I'll never find my first home," my client said. "I might just live at home...forever."
Interestingly, did you know that 60.6 million Americans live in multigenerational households? According to this research:
- Nearly 1 in 5 Americans live in a multigenerational household.
- Asians are more likely than any other racial or ethnic group to live in a multigenerational household.
- The most common type of multigenerational household two adult generations, such as parents and their adult children.
With Oahu's median single family home price hovering around the $800,000 mark, living at home is the only option for many. Even though it's the not most ideal situation, living at home could help a prospective home buyer save for a larger down payment and to pay down his or her debt.
For millennials...just a thought. Rather than purchasing your first home, maybe the strategy is to build an extension to your parents home. What do you think?
Source: HiCentral.com, The Pew Research Center.
Disclaimer: This is a personal blog. Ryan Oda (#RS-75450) is a licensed real estate salesperson with Benn Pacific Group, Inc (#RB-19423). The opinions expressed here represent my own and not those of Benn Pacific Group, Inc., its agents, and or its affiliates. My thoughts and opinions can change over time. This blog is intended to provide a semi-permanent snapshot of a selection of various thoughts and opinions that may not be the same, or even similar, to those I may hold today.
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