Posted on September 26, 2020 by iwano@_84
Households have grown during the coronavirus pandemic and its economic fallout as generations, from seniors to young adults, have returned to the family home for cost-saving, safety and comfort reasons.
This is especially true for young adults who lost their jobs when businesses closed and college students were sent away as campuses shut down.
A majority of young adults — 52% of 18- to 29-year-olds — now live with one or both of their parents, according to a Pew Research Center analysis of July’s Census Bureau data. That percentage passes the previous peak, which occurred during the Great Depression.
Real estate agents like Israel Hill, the office leader of John L. Scott Real Estate’s Portland Northeast office, are seeing multiple offers for well-priced residential properties in the $700,000 range and under with extra living space for family members and a large backyard.
Last week, we looked at homes with four