The Real Deal Miami

Foreclosures mean moving back in with Mom and Dad

April 12, 2010 10:34AM

The foreclosure crisis has led homeowners to move back into the homes
of their parents, according to a report by the Mortgage Bankers
Association. The data shows that while the number of households has
decreased, the population in metropolitan areas, including South
Florida, has increased. From 2005 to 2008, the percentage of homes that
have more than one person in each room rose from 2 percent to 10
percent, looking at households with residents born in the United
States. West Palm Beach resident Deb Jacobs said she had moved back in
with her 89-year-old mother after her home was foreclosed, almost 40
years after moving out. [Palm Beach Post]