4BR, 5BA? Don't downsize just yet...

Demographer and economic forecaster Neil Howe (Generations) on the continued growth of something we thought died in the 50s: the multigenerational home

Click for another illuminating post from historian, demographer and economic forecaster Neil Howe. Few know as much as he does about the generational culture wars; after all, he and William Strauss wrote the book…OK, books. And Howe’s latest one last year that puts what’s going on in the world in ‘wow-click!!’ perspective.

With his usual detailed stats and conversational tone, Howe notes one in five Americans now lives in a multigenerational home, and the share of Americans age 18-29 living with parents as of July of 2020 hit 52%—exceeding the previous record of 48% tabulated by the U.S. Census in 1940 at the tail end of the Great Depression.

There are multiple reasons for the change, and Howe gives us the depth missing from the headlines: Millennials who can’t afford a home. Aging parents who need a boost and can contribute a wealth of experience and some child-watching. Big suburban homes no longer needed for four-child families. Easily installed closet-sized elevators. And remember, Howe is a full-time economic forecaster—so if you’re considering investing in real estate, this is required thinking.

And that reminds me of health futurist (and former helicopter skier), Jeff Goldsmith, PhD, who said years ago (over wine at the time, I believe) that all those 4-bedroom suburban homes that Boomers would soon leave behind would make great co-living spaces. The time appears to have arrived. Follow Jeff, too—there is no better analyst and overall guru on healthcare.