Tuesday, April 3, 2012

The new American household: 3 generations, 1 roof

As the economy continues to take a toll on consumers' finances, a growing number of people are discovering that becoming roommates with mom and dad, or a 20- or 30-something son or daughter, helps to ease some of the financial pain in tough times.

As of 2010, 4.4 million U.S. homes held three generations or more under one roof, a 15% increase from 3.8 million households two years earlier, according to the latest data available from the Census Bureau.

When Alicia Moura's father-in-law, Aecio D'Silva, retired from teaching at the University of Arizona in 2010 to pursue private-sector projects in aqua-culture and bio-fuel, he didn't expect to wait long before his efforts paid off. But then the economy tanked, development funds dried up and his ventures languished.  More...

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