Depending on the kindness of . . family

Recession Housing Trend: Doubling Up?

Families around the country are weathering the recession by hunkering down with relatives and friends . . “I’d rather be home if I’m going to be broke,” said [one person who moved back home].

Kris Haher, “Homeward Rebound: Weathering the Storm With Kin”; The Wall Street Journal(4/7/09)

If you don’t know the term, “boomerangers” refers to 20-somethings who move back in with their parents after leaving home for college.

Now, thanks to the recession, that trend appears to be spreading to older adult children — sometimes with their own children. According to the Journal, the people opening their doors aren’t just parents, but in-laws, extended relatives, and even friends.

Aggravating the problem: overwhelmed social service agencies, and long waiting lists for such things as food stamps.

The article mentions such places as Alabama, Iowa, and New Hampshire, but no doubt there are plenty of affected families in Minnesota, too.

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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