2016 American dream: 4 beds, 3 baths

The 2016 modern mothers and fathers with adult children at home apparently have at least one ground rule: We’ll share a roof, however, not a bathroom. An infographic and expert analysis by LawnStarter suggests that parents who welcome their children with open arms might be finding comfort (and sanity) in large spaces – specifically, those with lots of rooms for showering and sleeping.

U.S. Census data shows that in 2015, the number of new single-family homes sold that had four-plus bedrooms (53 %) and 3 or more bathrooms (41%) reached an over 30-year high. Houses have naturally expanded to accommodate this need; in 1975, your typical new construction single-family amassed 1,975 square feet, when compared with 2,600 square feet in 2016.RealtyTrac’s Daren Blomquist, a specialist in housing data and analysis, believes this trend is now being fueled by the increase in multi-generational housing.

With only 8% of new single-family builds boasting triple bathrooms in 1978, the idea of moving in together was ostensibly less appealing. Now, families can cohabitate without re-living the high school morning trauma of cramped elbows and fire-prone power strips holding the weight of three hair contraptions.

Multi-generational housing: under one peaceful roof

Which demographic segments are propelling joint living situations? A 2015 study from the Pew Research Center determined that despite improved job conditions, more millennials were moving in with family. Strapped by debt or just really tight with the ‘rents, 26 % of young adults opted to live with the parents last year (up from 24 percent in 2010.)

“Part of this acceptance is brought about by cultural changes influenced by a higher percentage of foreign buyers who are open to multi-generational home ownership, as well as millennials who put more value on their social network than their personal space,” Blomquist told LawnStarter.

One group having a high propensity for multi-generational housing is Hispanics, and they’re the only demographic to defy declining national home ownership trends.

Given a sizable amount of money, it’s assumed a young Hispanic individual would buy a home for his or her parents rather than a home for themselves, according to Leo Pareja, a broker for Keller Williams in the Washington, D.C., metro. Moreover, 2015 marked the 5th consecutive year that Hispanic home ownership has been on the rise, with 245,000 new owner households entering the market during the year.

Another big factor is definitely the pressure tight inventory continuously put on affordable housing, squeezing out many qualified buyers from a competitive market.

So midway through 2016 we are hearing more and more; if you can’t beat ’em, join ’em – in a house where everyone is able to be happy. Nick & Cindy Davis with RE/MAX Premier Group serve the Tampa Bay and Surrounding areas, so if you are need of finding your new home, we are always just a click here or call to 813-300-7116 away. And yes we have bilingual Realtors who work with us.

Article courtesy of LawnStarter https://www.lawnstarter.com/tampa-fl-lawn-care