Liberal SF Chronicle Goes To Hysterical Lengths
To find signs of economic recovery.
When times are tough, people double up their living situations to save money. Boomerang kids return home after college; twentysomethings share with roommates; couples postpone tying the knot or starting a family; foreclosed-upon families move in with relatives. But when the economy is doing well, household formation rises, as people get the income - and the confidence - to commit to renting or buying their own place.
That's happening now, according to the Census Bureau. Americans formed 1.15 million new households during the 12 months ended in September - a big jump from the annual average of 650,000 new households added during the prior four years. The current rate is still a bit shy of the typical average of 1.25 million household formations a year.