Transcript
Speaker: In today's bustling, ever-changing world, the way we choose to live and whom we choose to live with can vary greatly.
Speaker: But one arrangement, both ancient and making modern comeback, is the subject of our podcast series, Multigeneration Living.
Speaker: Now, if you're wondering what exactly multigeneration living is, let's break it down.
Speaker: In its core, multi-generation living refers to households where three or more generations reside together.
Speaker: Think grandparents, parents, kids, and sometimes even great-grandparents, all sharing the same space, meals, memories, and moments.
Speaker: In the coming episodes, we'll be diving deep into the many facets of living arrangement, the history, the joys, the challenges, the economics, and so much more.
Speaker: We will talk to professionals in the field and people that have been experiencing this style of living firsthand.
Speaker: And we leave no stone unturned in this fascinating subject.
Speaker: We will trace its rise, understanding how it was once the norm, moved to the background, and now making a notable return in many societies.
Speaker: So whether you live in such a setup or considering it, maybe just curious about its dynamic, stick around.
Speaker: Together we'll explore the world of multi-generational homes, a testament to family ties, resilience, and the beauty of shared experiences.
Speaker: So in today's episode, we're going to talk about the rising of multigen living again.
Speaker: In present day, exploring the revival of familial structure many thought was fading away, multigeneration living.
Speaker: In the rear wind of 21st century, more and more families are choosing to come together under one roof.
Speaker: But why?
Speaker: Let's start with some actual numbers.
Speaker: So a new study from Generation United called Family Matters, Multigeneration Living is on the Rise and Here to Stay, finds that number of Americans living in a multigeneration household with three or more generation has nearly quadrupled over the past decades.
Speaker: with dramatic increase of 271% from 2011 to 2021.
Speaker: Actually, if you want to break it down, in 2021, 26% of the U.S. family are living that way.
Speaker: So Generation United estimated 66.7 million adults at ages 18 and above in the U.S. are living in multi-generational households.
Speaker: There are more than one in four Americans among those living in a multi-generational household.
Speaker: And what's amazing is that about seven in 10 of those currently living in a multi-generational household plan to continue doing so long term.
Speaker: The new study finds that 66% of those living in a multi-generational household say the economic climate was a factor in their living arrangement.
Speaker: The top reported causes for forming their multi-generational household are need for elder care, child care, or education needs, job loss, change in job status, or underemployment.
Speaker: Healthcare costs for one or more family members, cultural and family expectation.
Speaker: So these are kind of the reasons why people choose that way.
Speaker: The overwhelming majority of Americans living in multi-generational homes say their household functions successfully, citing various factors that contribute to the success, many of which fall under three, family relationship and interactions, home design, and support and services.
Speaker: Remarkable numbers, real, real remarkable numbers.
Speaker: So how can we explain them?
Speaker: So to start, we can discuss the resurgence of, without mentioning the 2008 financial crisis.
Speaker: A shockwave that shook the world and impacted millions, especially young adults.
Speaker: Job losses, wage stagnation, and economic uncertainties became hallmark of this period.
Speaker: As the financial constraints tightened, the sanctuary of family home became not just comforting options, but a necessary for one for many.
Speaker: It wasn't a matter of failing to launch, rather young adults were making pragmatic decisions in the face of the unpredictable economy.
Speaker: Moving back home became a safety net, a space to regroup and rebuild.
Speaker: Parallel to this,
Speaker: The housing market underwent a significant transformation.
Speaker: In many global metropolitan areas, property prices soared.
Speaker: This escalation meant that the dream of owning first homes started to slip further from the grasp of many.
Speaker: Even renting, once seen a more affordable alternative, began to weigh heavy on wallets.
Speaker: High rental costs combined with stagnant wages meant that living independently became significant financial challenge.
Speaker: But the economic factors are just one side of the story.
Speaker: Let's shift our gaze to another influential demographic change, aging population.
Speaker: As medical advancement prolong life expectancy, we find ourselves in societies with a growing number of elderly individuals.
Speaker: With age comes the inevitable challenge of health and mobility.
Speaker: Now, faced with decisions about elderly care, many families are choosing to forgo institutions instead of opting to care for their loved ones at home.
Speaker: This choice isn't just financial, it's deeply emotional.
Speaker: There's a growing desire to keep families intact, allowing for intergenerational bonding and ensuring that the elderly live their ears surrounded by familiar faces and warmth.
Speaker: In essence, the 21st century, with all its advancement and complexities, has in many ways circled back to an age-old family model.
Speaker: This resurges of multi-generational living is testament to the adaptability and the resilience of families.
Speaker: Whether driven by financial necessity, the desire for connection, or responsibility of care, families worldwide are rediscovering the strength that comes from unity.
Speaker: So some of the benefits that drive this rise.
Speaker: So let's dive into the core benefits of driving the rise in modern times.
Speaker: First on our list is economic relief.
Speaker: The simple math of shared living equates to shared expenses.
Speaker: With soaring houses costs and general expenses combining financial resources can provide significant relief.
Speaker: Just think about it.
Speaker: Utility bills, rent or mortgages, even grocery costs get split among more earners.
Speaker: This collective approach not only eases individual burdens, but can also allow for pooled resources to achieve larger financial growth, like buying a family home or investing.
Speaker: Next, we cannot underestimate the value of emotional and logistical support.
Speaker: In a multi-generational home, there is a built-in support system.
Speaker: Grandparents often step in as caregivers for young children, offering not just practical assistance, but also a wealth of wisdom and experience.
Speaker: On the flip side, younger family members can assist elders with tech challenges or physical tasks.
Speaker: This dynamic creates a bond that's both practical and deeply emotional.
Speaker: Moments of loneliness are fewer when you're surrounded by family, and companionship across ages can be truly, truly enriching.
Speaker: And then there is the boon of shared responsibilities.
Speaker: In this busy world, managing household is no small feat.
Speaker: But when tasks are divided amongst more hands, the load lightens.
Speaker: Cooking, cleaning, repairs, maintenance, everything can be managed more effectively and efficiently.
Speaker: This doesn't just reduce the individual burden, but also fosters a sense of teamwork and unity.
Speaker: Imagine a scenario where one member enjoys cooking while others prefer gardening.
Speaker: This leads to both meals and beautiful garden without overburdening any single member.
Speaker: In a nutshell, while the 21st century world possessing unique challenges, the rise of multi-generational living offers a beacon of hope and practicality.
Speaker: This testament to the age-old saying, together we are stronger.
Speaker: By combining resources, sharing responsibility, and offering mutual support, families are finding harmonious, beneficial ways to navigate the complexities of modern life.
Speaker: And last but not least, I want to talk about creating meaning in life.
Speaker: For many of multi-generational home people, this is one of the most significant moves they have ever done.
Speaker: In today's fast-paced world, the pursuit of happiness has become
Speaker: has become a central theme in many people's lives.
Speaker: We are constantly bombarded with images and messages that suggest that happiness should look like, often equating it with material success, personal achievement, or fleeting moments of pleasure.
Speaker: However, according to positive psychology, the true essence of happiness is not just about experiencing positive, emotional, or achieving personal goals.
Speaker: One of the fundamental pillars of lasting happiness and well-being is the creation of meaning in life.
Speaker: Meaning, as defined by positive psychology, is about connecting to something larger than oneself.
Speaker: Whether it's a higher purpose, a set of values, or a broader mission, it's about understanding one's place in the grand scheme of things and feeling that one's life has significance beyond the immediate.
Speaker: This sense of meaning can be cultivated in various ways, and one of the most profound and often overlooked avenues is through multi-generational living.
Speaker: Multi-generation living offers refreshing perspective on what truly matters.
Speaker: By fostering connections, sharing stories, and emphasizing the importance of legacy, it provides the fertile ground for the creation of meaning of life.
Speaker: In the end, it reminds us that happiness is not just about personal fulfillment, but also about being part of larger tapestry of relationships, history, and shared future.
Speaker: I really hope you enjoy this episode and the next one will be all covered about the advantages, the great life of multi-generational living.
Speaker: Hope you have a great day.
