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Sunday, July 11, 2010

Is the "empty nest" household just a dream?

A survey by VibrantNation.com  suggests that while US Boomers typically would be dealing with “Empty Nest” syndrome as their children leave home they are in fact running multi-generational boarding houses.

Nearly 2/3 of Boomer women respondents reported that one or more of their adult children have returned home to live and of those adult children, nearly half have brought one or more of their own children along too. And that’s on top of the 13% of Boomer women who report that their parents or in-laws are living with them as well.

The founder of VibrantNation.com said: “The Recession is making the 'Empty Nest' a historical relic, at least for Boomers and that our research suggests that they are footing the bill for their children, grandchildren and even parents who have moved into their homes and are now assuming multi-generational housing responsibilities that we probably haven’t seen since the Great Depression.”

According to the Vibrant Nation survey :
  • 63% have an adult child living with them now (only 41% report ever having returned home to live as adults themselves) and most expect their adult child(ren) to remain with them for more than one year.
  • 27% have grandchildren living under the same roof
  • 13% have parents or in-laws living with them as well

70% blame the economy as the reason for this outcome.

Such a massive change in the structure of households must affect the type and quantity of products being purchased. I wonder how many companies have come to terms with this re-arrangement of their markets? Dick Stroud

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