Playing with demographics

The latest doom and gloom story (USAToday) about the economy is that more siblings are home sharing, and more older parents are living with adult children. Of course, no percentages based on population, just numbers. I wonder if these giants of journalism remember that we had a baby boom from 1945 to ca. 1962, which means now in the 21st century we're having an elder-boom. We'd have that even if our Fed and Congress hadn't cooked up our subprime meltdown. One of the highest foreclosure rates is Las Vegas--which if you were watching HGTV the last 2 or 3 years, was a hot bed for speculators from California, as was Florida for just about everyone from Georgia and north. Many of the people who took out these mortgages never lived in the homes, nor intended to. They just drove off in their Mercedes and left it empty. Flipping was the name of the game. And the early-in speculators did extremely well. We have friends and family who sold homes and bought homes where the price was bid up beyond the asking price, and at the time, everyone thought it was just wonderful. What goes up, comes down.

Also, elder-boomers have no problem living with their gen-x children--they are quite close; I suspect it's the elders helping the youngers with the mortgage. Also, many 40-50 somethings would rather live with Mom and save on the nursing home because they can inherit more money. There was really a relatively small blip in history when the generations didn't live together under one roof.

Nearly 3.5 million brothers or sisters are living in a sibling's house, according to 2007 Census Data, up from 3 million in 2000. And 3.6 million parents live with their adult children, up from 2.3 million. About 6.7 million householders live with other relatives, such as aunts or cousins, compared with 4.8 million in 2000.

Also, let's not forget the millions who flooded over the borders during the booming Bush economy, who are counted in the census, who live with relatives, use the social services system, but are not Americans. And I ask you, am I supposed to feel sorry for these people featured in the story?

Colt Phipps, 40, of Scottsdale, Ariz., worked in the mortgage industry until his business failed because of the housing crisis. His home, which was worth nearly $1 million, was foreclosed upon. So Phipps and his fiancée moved in with his parents, going from their 5,000-square-foot house to a 1,400-square-foot house. He also brought his two Shar-Pei dogs along and does what he can to pay rent to help his parents with the mortgage. He is still looking for work, and his fiancée, formerly a loan processor, is now working at Home Depot.

I can just imagine what sort of a deal he worked for himself to get that million dollar house. If it were my house, they could live there--without the dogs and only if they were married.