This plight is a contributor to the tight inventory – kids will be more likely to occupy their parents’ home, rather than selling it. Hat tip to WC for this boomer article in the latimes.com – an excerpt:
Debbie Rohr lives with her husband and twin teenage sons in a well-tended three-bedroom home in Salinas.
The ranch-style house has a spacious kitchen that looks out on a yard filled with rose bushes. It’s a modest but comfortable house, the type that Rohr, 52, pictured for herself at this stage of life.
She just never imagined that it would be her childhood home, a return to a bedroom where she once hung posters of Olivia Newton-John and curled up with her beloved Mrs. Beasley doll.
Driven by economic necessity — Rohr has been chronically unemployed and her husband lost his job last year — she moved her family back home with her 77-year-old mother.
At a time when the still sluggish economy has sent a flood of jobless young adults back home, older people are quietly moving in with their parents at twice the rate of their younger counterparts.