I once had the opportunity to ask a Vietnamese immigrant[1], "What do you think the US could learn from Vietnam?" and his answer reflected this. He frankly thought it was sad that US families "fracture" when children move out early. He admired the independence and individuality he saw in the US, but the recognized the cost of it was atomized families and expressed a deep sense that his kids would relate to him differently when they become adults.
The average American doesn't have the social technology to interpret habitation with parents in any way but through the lens of individuality and independence. I have sometime to learn here too.
What do you feel like you had to learn to make your arrangement work?
1. and Uber driver
My own in-laws stayed with us a few times for a couple months at a time. I must admit the level of shenanigans my wife and I normally get up to was much lower during that time, even though I thought it was nice having them around for a while. Relationship dynamics are probably a major factor here, as well as personality types.
Also known as the period of very high wealth inequality preceding this one.
Yes, it's probably not so bad when you have twice the bedrooms (and I'm assuming sq footage) of an average house.
Given the current state of affairs, OP is doing the 'most logical' thing. If he sells his rental property, someone else will pick it up and rent it out.
The real problems are the rules that make it very difficult (practically impossible) to build high-density housing where it is needed and tax incentives that benefit owning multiple homes.
It’s a broken system but this is akin to telling people to solve global warming by making small individual choices: it doesn’t work and we need larger action at the top to force the change.
If they were just sitting on it, that would be reducing available housing.
Ambitious, upwardly mobile people often have to move for job opportunities. Meanwhile their parents are often not yet retired and are tied to a different location by their own careers.
The interpersonal dynamics can be really toxic. Often the older generation has particular outdated ideas about household management, religion, cooking, and child rearing. Clear boundaries have to be set and respected or else there is constant conflict and resentment.
Its large. ~40% of homes are 3 bedrooms. ~5% of homes have 5 or more bedrooms.
https://www.statista.com/statistics/206393/distribution-of-h...
I have a wife and child, and we all live with my parents in a largish 6-bedroom house. They are retired and I support them financially. While they bought this house before I entered the workforce, I now pay the mortgage on this house. A few years ago we did a total rebuild of the house, and it's now a great living experience - something that neither my parents nor myself could have individually made possible. In a few years, as their health declines and they need support, it's easier for everyone that they are right here. Right now, they help a lot with childcare.
My wife and I - we just bought a second house that is fully rented out. While that one does not breakeven with its mortgage, it does end up being affordable.
My wife's parents and their son (my wife's brother) also live together. He is a doctor and supports them.
When I mention this to my coworkers or friends, the initial reaction is almost never positive. I've never understood that perspective. I don't mention it any more.