Multigenerational Households Are on the Rise. Is the Housing Industry Reacting Fast Enough?
More American households are becoming multigenerational, and home builders are beginning to respond.
In CNBC coverage, Diana Olick covers home builder Lennar’s “NextGen” home. “NextGen” is Lennar’s way of providing two living spaces under one roof. This solution, created with multigenerational households in mind, is performing well for Lennar. Olick reports “NextGen” sales grew 24 percent in the third quarter of 2014.
A survey by John Burns Real Estate Consulting found that 44 percent of home shoppers would like to accommodate elderly parents in their next home. And 42 percent plan to house adult children.