CNNMoney reports today that more and more people are living in a three generation home. The article, "The new American Household: 3 generatiosn, 1 roof," by Les Christie, reports that real estate professionals need to make concessions to accommodate this new trend.
In 2010, 4.4 million homes in the US held three generations or more under one roof representing a 15% increase from 2008.
What's causing this new trend? The economy, CNN reports. People who planned to be self-sufficient found that the combination of job insecurities and their own parents' aging made 3 generation living more appealing.
How does this affect real estate professionals? More families are looking for larger homes and have more wage earners to contribute to the purchase. Some realtors are reporting an increase in two car garages and four or more bedrooms on their client's must-have list. Some builders are designing homes specifically for this new market niche - including a guest suite witha kitchenette, for example.