Millions of economically pressed Americans cushioned themselves against the recession by doubling up in houses and apartments, according to the latest Census Bureau report. The Washington Post reports the number of adults sharing households with family members or other individuals jumped 11.4% between 2007 and 2010, according to Census Bureau figures. Overall, such living arrangements accounted for 22 million households in 2010—or 18.7% of all U.S. households, compared with 17% in 2007. Young adults were the most likely to double up, the report says, accounting for more than half of those who moved in with family members or friends. Between 2007 and 2010, the number of adult children who lived in their parents’ homes increased by 1.2 million to 15.8 million. Those between the ages of 25 and 34 made up two-thirds of that increase, underscoring a prime reason for a broader slowdown in household formation that economists call both a symptom and a cause of the nation’s continued economic doldrums. The report notes such moves have proved beneficial, with many Americans escaping poverty by sharing homes with families or friends. Economists estimate there are more than 2 million fewer occupied homes in the country than there would have been had Americans continued forming households at the rate they did before the recession. Read the full story here.
Today’s poll question: Since 2007, has your household added one or more adult family members or friends affected by the recession?
