Fewer homes are owned by adults age 44 and younger, according to a 2012 census.
Forty-two years ago, adults age 30-44 owned 32 percent of homes, but that dropped to 26 percent in 2012.
“These changes are related to baby boomers, that large segment of the American population born between 1946 and 1964,” Jonathan Vespa, a demographer with the Census Bureau’s Fertility and Family Statistics Branch, said in an article on the Census website. “As they moved through young adulthood to middle age, and now into older adulthood, we can see an accordion-like effect on the age groups as they expand and shrink.”
The same study found that 7.1 million children in America live with a grandparent, which is 9.7 percent of all children in the United States. Adults older than age 45 now make up 19 percent of home ownership compare to the 13 percent in 1990. Of those, more than half who are older than 75 live alone.
Copyright 2015, Deseret News Publishing Company