Multi Generations The New Norm
Increasingly, several generations of Australian families are living together under the same roof. Social demographer Mark McCrindle says there are several reasons for the lifestyle choice.
“Younger generations are either leaving home later or returning back to the parental home,” he says.
“Then on the parents’ side, they’re living longer and sometimes the older parents are moving in with the middle-aged children, creating the three or, in some cases, four generations under the one roof.”
The practice of generations Y and Z living with the family for longer periods due to affordability constraints now includes Baby Boomers, who are sharing their household expenses with their adult children to not only save money, but to maintain their lifestyle.
McCrindle says fewer than 10% of Australians now move out of their home into retirement homes.
Having several generations sharing the running costs of the home creates a win-win situation because each party is paying less than they would if they were running their own rental, he says.