Wednesday, March 3, 2010

White House epitomizes multigenerational housing trend

Bridge for sale not Brooklyn's
Shared housing can mean shared expenses and, when the economy improves, shared equity -- a win-win economic situation. During past boom markets, appreciation has generated an equity windfall large enough to allow shared-housing partners -- family or otherwise -- to part ways, both with enough cash for a down payment on their own homes.

by Broderick Perkins
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Deadline Newsroom - The soft economy gives new meaning to family reunions.

More buyers are purchasing homes to accommodate more than one family generation, and households are otherwise doubling up for all kinds of reasons.

In the past 12 months, 37 percent of Coldwell Banker real estate professionals surveyed said they've noted an increase in home buyers looking to move more than one generation into a home.

In the back-to-the-future scenario, the move is most often an economic decision.

The vast majority -- 70 percent -- of Coldwell's sales agents say continued soft economic conditions may cause even greater demand for multigenerational housing in 2010 and beyond.

But there are other reasons.

The multigenerational family at 1600 Pennsylvania Ave. in Washington, D.C. includes America's "first grandmother," Marian Robinson, who lives with her daughter, Michelle Obama; her granddaughters, Malia and Sasha; and her son-in-law, President Barack Obama.

You've got that really hits home! Read the full story here: White House Joins Multigenerational Household Trend

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Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group, including DeadlineNews.Com, a real estate news and consulting service and Web site, and the Deadline Newsroom, DeadlineNews.Com's news back shop.

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