More reports of people combining households

One result of this recession is that more families are have two generations of adults plus kids in one household. Usually the working parents need the retired generation’s retirement savings. Basically, we sort of becoming society where 3 incomes are needed to support one household.

Amid Housing Struggles, More Marylanders Double Up

May 23, 2012 By AMALIA EHRMANN and MARIA-PIA NEGRO Special to Capital News Service

Mana Ali, 27, a graduate student, moved back in with her father and stepmother last year after she realized she could no longer afford to live in the townhouse she was sharing with her cousin. Then, her older sister and two children joined them. Add a stepbrother and half-sister and there are eight people living in a five-bedroom house.

Now scattered shoes of different sizes and styles greet visitors in the foyer.

Space is tight. Ali’s older sister crammed all her belongings into the room where she and her children, 6 and 4, have beds. Ali’s room used to be a small office.

Sometimes, she said, she wishes for more privacy. But, like many other Marylanders, she’s found she cannot afford to pay rent on her own.

The high cost of housing is putting an economic strain on many people in Maryland. Housing officials and advocacy groups report a sharp increase in people doubling up with relatives or friends. Meanwhile, homeless shelters report an increase in families seeking help.

Nationally, about 19.7 million households doubled up in 2007, or included at least one additional adult. Last year, that number climbed to 21.8 million, census data shows.

Doubling up — where relatives or friends move in together to share the cost of housing — is a national trend. The recession saw a disproportionate increase in the number of doubled-up households compared to the increase of total households, according to a census working paper prepared by Suzanne Macartney, a census poverty analyst.

Young, unmarried adults aged 25 to 34 — which includes Ali — and people who were not in the work force were more likely to live in shared households, the census reported last year.

“People often pay more than 60 percent of their income on their rent, which makes it difficult to afford everything else,” said Pam DeCicco, the program director at Bridges to Housing Stability, a non-profit organization in Howard County that helps working families struggling with housing costs.

Fullerton Overview

Proprietary OC Housing News home purchase analysis

2911 PERSIMMON Pl Fullerton, CA 92835

$425,000 …….. Asking Price
$425,000 ………. Purchase Price
5/19/2012 ………. Purchase Date

$0 ………. Gross Gain (Loss)
($34,000) ………… Commissions and Costs at 8%
============================================
($34,000) ………. Net Gain (Loss)
============================================
0.0% ………. Gross Percent Change
-8.0% ………. Net Percent Change
0.0% ………… Annual Appreciation

Cost of Home Ownership
——————————————————————————
$425,000 …….. Asking Price
$14,875 ………… 3.5% Down FHA Financing
3.80% …………. Mortgage Interest Rate
30 ……………… Number of Years
$410,125 …….. Mortgage
$108,883 ………. Income Requirement

$1,911 ………… Monthly Mortgage Payment
$368 ………… Property Tax at 1.04%
………… Mello Roos & Special Taxes
$106 ………… Homeowners Insurance at 0.3%
$427 ………… Private Mortgage Insurance
………… Homeowners Association Fees
============================================
$2,813 ………. Monthly Cash Outlays

($292) ………. Tax Savings
($612) ………. Equity Hidden in Payment
$19 ………….. Lost Income to Down Payment
$126 ………….. Maintenance and Replacement Reserves
============================================
$2,054 ………. Monthly Cost of Ownership

Cash Acquisition Demands
——————————————————————————
$5,750 ………… Furnishing and Move In at 1% + $1,500
$5,750 ………… Closing Costs at 1% + $1,500
$4,101 ………… Interest Points
$14,875 ………… Down Payment
============================================
$30,476 ………. Total Cash Costs
$31,400 ………. Emergency Cash Reserves
============================================
$61,876 ………. Total Savings Needed
——————————————————————————————————————————————-
This property is available for sale via the MLS.
Please contact Shevy Akason, #01836707
949.769.1599……
sales@ochousingnews.com…..

We're sorry, but it seems that we're having some problems loading MLS # P822576 from our database. Please check back soon.

	$399,900 2922 PERSIMMON Pl		0.03 miles 3 bd / 2 ba 1,617 Sq. Ft.
	$525,000 522 South PALM Dr		0.28 miles 4 bd / 2.5 ba 1,950 Sq. Ft.
	$199,900 2851 ROLLING HILLS Dr #33		0.72 miles 2 bd / 1.75 ba 1,440 Sq. Ft.
	$410,000 3115 RAVENWOOD Ct		0.77 miles 4 bd / 2 ba 1,407 Sq. Ft.
	$199,000 2851 ROLLING HILLS Dr #101		0.81 miles 2 bd / 2 ba 1,440 Sq. Ft.
	$374,900 2231 North DEREK Dr		0.86 miles 3 bd / 2 ba 1,457 Sq. Ft.
	$489,000 1073 EL MIRADOR Dr		0.97 miles 3 bd / 2 ba 1,631 Sq. Ft.
	$524,900 563 CRAFTSMAN Cir		1.03 miles 4 bd / 3 ba 1,890 Sq. Ft.
	$479,900 455 DOVER Cir		1.1 miles 3 bd / 1.75 ba 1,412 Sq. Ft.
	$550,000 2201 MONTREAL Cir		1.14 miles 4 bd / 2.5 ba 2,000 Sq. Ft.

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