Sandwiched Boomers and Multi-generational Housing
The stimulus package is growing larger by the day in the Senate, where the addition of a new tax break for homebuyers sent the price tag well past $900 billion. "It is time to fix housing first" said the Republican Senator from Georgia Wednesday night as the Senate agreed without controversy to add the new tax break to the stimulus measure, at an estimated cost of nearly $19 billion.
The tax break was the most notable attempt to date to add help for the crippled housing industry. In the meantime, Multi-generational households are making a comeback for Sandwiched Boomers – especially with the rise in unemployment for new college graduates and the financial pinch felt by aging parents who are seeing their retirement income dwindle. Don’t be disappointed if you were dreaming about the empty nest. This new living arrangement can reduce stress, with more family members sharing household responsibilities, financial expenses and emotional support – as long as guidelines are clearly set and upheld.
Let us know if you're living with grown children, grandchildren or parents and how it's working out.