Foreclosures Bringing Families Closer to Form One Unit

Foreclosures are bringing different families to form one unit living under a single roof. When Vicki and John Baertschi tied the knot they found their roof extending its shelter to many members of their extended family. John’s 6 years old daughter lived with them in their bungalow in Elmhurst and so too did the eldest son of Vicki who was a working college graduate. Vicki’s daughter who had married came and went twice – once when her husband in the army was posted overseas and a second time when she was going to have baby. Vicki’s next son dropped in and out while studying at Loyola University.

The Baertschi family is not the only one experiencing this trend. The collapse in the housing sector and the vanishing of jobs have caused more people to move in with other members of their family to manage finances while hunting for alternatives. This is referred to as the boomerang effect by sociologists.

According to a recent study released by the Mortgage Bankers Association about 1.2 million families were lost from 2005 to 2008. Meanwhile the population of the country has been growing leading to more households bunching in to live together.

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