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| ::Recession means three generations sharing a home - 19th April 2009 |
| A study by Lloyds TSB Insurance has revealed a rise in the number of generations sharing a home An increasing amount of children, parents and grandparents are sharing a home as a result of rising living costs and more latterly, the recession. In the last three years, there has been a 7.6% rise in “multi-generational living”, which is “the legacy of social and economic factors,” said Lloyds TSB Insurance. In order to save money, young people are staying at home longer, while the older generation are being cared for by their offspring. According to the study, around half a million homes in the UK include at least three generations of the same family, with numbers expected to increase by more than 56,000 in the next ten years. The study found that areas with the highest level of multi-generational living includes Brent, Bradford, Luton and Merthyr Tydfil. Phil Loney of Lloyds TSB Insurance comments: “More and more middle-aged people are taking on the care of older family members and supporting children who are going through tough times.” |
| Source of this article : |
| 19th April 2009 |
| Date of this item added : |
| 2009-04-20 |