In 1940, about one-quarter of the U.S. population lived in homes with three or more generations of their family, forming what is known as a “multigenerational home.” But after World War II, the significant expansion of suburban housing developments and the concept of the “nuclear family” took hold. At that time, it became customary for children to move out of the home after reaching adulthood and for older relatives to move into assisted living communities. In fact, by 1980, just 12% of Americans lived in a household with three or more generations.

However, by 2016, that number increased to include one in five Americans stating they lived in a multigenerational household. There are two key reasons for this change. First, economic factors have played a substantial role. Many adult children with families of their own are moving back into their parents’ homes because of…

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