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The Herman Trend Alert
January 14, 2014 Boomerang Parents With the increasing monetary pressures and in some cases, the deteriorating health of the aging of the Baby Boomers, we are now seeing more parents moving in with their children. We call them "Boomerang Parents".
The Trend is Clear
Growing Demand for Mother-in-Law Suites
More Seniors Living with their Children This increase of seniors living with relatives is a long-term demographic shift,Ó said Jed Kolko, Chief Economist for Trulia. "Six percent of United States-born seniors live with relatives, while 25 percent of foreign-born seniors live with relatives. For those born in countries including India, Vietnam, Haiti and the Philippines, the share of seniors living with relatives is even higher", he added. Though in the past, outside of the US----particularly Asia and South America---we have seen this strong social contract between the generations, with Westernization, there has been the increasing construction of assisted living and old-age homes. Expect to see an increase in this trend, as the proximity of aging parents living in the house makes managing disease much easier, while reducing the financial burden many adult children have shouldered in the past. Special thanks to Amy Hoak, writing for MarketWatch, and Jason Alderman, writing for The Huffington Post.
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