Because of the struggling economy, there are more and more people who are moving in with their relatives. Usually it’s their parents, but that’s not always the case – and it’s not limited to 20-somethings who are right out of college and can’t get a job. There are plenty of people in their 30s and older who are living with other relatives or who have moved back in with their parents, because they’ve lost jobs, homes, and families. They can’t get a new job that pays what the old one did, and they struggle to pay their bills. They’ve sold or walked away from their houses, too.
In many cases, families have split apart from the pressure that they face. In other cases, the entire family has moved in with a relative of one of the struggling people, just to have somewhere to stay. They don’t want to end up on the street, of course, but moving back with their family can bring its own kind of stress. For those who already lived close to family and spent a lot of time with them, it’s much less of a hassle than for those who aren’t close or who have been away for a long time.
For those who are making the tough choice to move back with relatives, or for those who are currently living with relatives, it’s important for you to know that the economy is starting to improve. While it won’t happen overnight, there are encouraging signs that the housing market and other economic indicators are getting better. People are starting to spend again, as was evidenced by the holiday shopping season. That was an encouraging piece of information to receive, and it’s likely to transfer over to the housing market in the coming year.