1. THE NEW (OLD) AMERICAN FAMILY Multigenerational Living in the 21 st Century John L. Graham The Paul Merage School of Business University of California, Irvine [949-856-1969/jgraham@uci.edu]

2. Whats Happening? Economic Crisis?

3. LATimes (10-30-11)

4. Problem Definition Is Key Greed Debt Government regulation Government deregulation Sub-prime mortgages Executive incentives Efficient markets theory Eternal business cycles The Chinese The Greeks Adam Smith Alan Greenspan Ben Bernanke* Henry Paulsen* Bill Clinton George W. Bush* Christopher Cox* Tim Giethner Barack Obama* Harvard* You (according to H. Cain) Adolph Hitler

5. Whats Happening? Economic Crisis? Foreseeable Demographic Disaster?

6. U.S. Population 65+ (millions)

7. Associated Concerns Failing pension systems Coming failure of Social Security A housing stock that doesnt fit consumers needs (2006…) Rising healthcare costs A national experiment gone awry

8. Median Square Feet in New Single-Family Houses

9. Median Number of Rooms in Existing Single-Family Houses

10. Disabilities of 65+ Population (circa 2005) With any disability Vision or hearing Walking/using stairs Other physical tasks Activities of daily living Mental 51.8 21.3 38.1 24.9 12.5 11.4

11. Percentage of 65+ Year-old Widows Living Alone (Sources: McGarry & Schoeni (1998) and U.S. Census

12. Whats Happening? Economic Crisis? Foreseeable Demographic Disaster? A Welcome Cultural Shift…

14. Circa 2011 in America More than 20 million 18-34 year-olds live with their parents

15. Percentage of 18-34 Year-olds Living in Parents Houses

18. Circa 2011 in America More than 20 million 18-34 year-olds live with their parents More than 50 million Americans live in more than 7 million multigenerational households

21. Percentage of Multigenerational Households (AARP analysis of U.S. Census data)

22. Circa 2011 in America More than 20 million 18-34 year-olds live with their parents (spring training!) More than 50 million Americans live in more than 7 million multigenerational households Both numbers have been growing fast A return to reliance on the extended family, that is, a cultural shift

25. Book Topics Deciding to live together Financial and emotional benefits Financial and legal planning Proximity and privacy Remodeling home for adult children or parents Making co-habitation agreements

26. Over a dozen different types of housing options: Accessory apartments - attached or detached Duplexes Adjacent houses Townhouses Family compounds Condos

27. Accessory Apartments Granny/sonny flats In-law units Second units Garage conversions Cottages

33. Lately, we work to deliver the elevator shaft as a possibility for a conversion down the road with removable floor plates…and stacked closets on the first and second floors. Director of Architecture, Pulte Homes in Blueprint for a New American Home Wall Street Journal, 11-2-11

34. Universal Design Is Crucial in 21 st Century The current housing stock in America is inadequate for the baby-boomer generation Basic issue – room for a wheelchair For builders For re-modelers

38. Daunting Obstacles Four cultural curses and a blessing The missing – ter – I Sameness Wide-open spaces (1/3 rd estimate) Immigration Laws that favor your Grand Prix over your Grandparents

39. Occupants per Household around the World in 2010 5.2 India 4.8 Philippines 4.3 Vietnam 3.8 Mexico 3.4 China Source: Euromonitor 2.6 Spain 2.6 USA 2.5 Japan 2.3 UK 2.0 Germany

40. In 2020, when baby boomers are forced back into the homes and care of their kids, everyone may see it as a positive thing… the best kind of family reunion.

41. Bill: My wife and I enjoyed a few short years of three-generational living in a two-flat house in Chicago. We occupied the first floor. Our daughter and husband and our two grandchildren lived above us. We sat around the same dinner table every night. Those were the happiest, richest, and most rewarding years of our lives.

42. Resources Elder care Family communication books Household aids/products for seniors Organizations for seniors Remodeling www.AllintheFamilyBook.Us, latest literature, videos, curriculum design, this power-pointwww.AllintheFamilyBook.Us www.GU.org, the Generations United website/organization posts important new information on the topic in a most timely mannerwww.GU.org

43. the following slides can be inserted into the presentation as you wish

49. Family Meeting and/or Contract Topics Length of stay Communication Finances Shared responsibilities Childcare Family fun

50. U.S. Population 65+ (percentages)

51. Numbers of Multigenerational Households by Type in 2010 Householder with parent 25,000 & grandchild …with parent, child 68,000 & grandchild …with grandchild 1,100,000 …with parent & child 1,200,000 …with parent 2,200,000 …with child & grandchild 2,500,000