The trendy co-living spaces attracting millennials in New York and San Francisco are just the latest version of a concept that’s been around for 200 years – Finance

  • According to a recent article, the number of tenants living with roommates, Atlantic Ocean,
  • Millennials seek to reduce costs in the period of increasing rent.
  • But Cohabitation nothing new – immigrants and workers were looking for in the boarding houses of the 19th century.
  • Today's shared living quarters are just a modern version of yesterday's boarding house.

Millennial tenants are doubling – and this is not always out of desire.

Recent article Atlantic Ocean stressed the growth of adults living with roommates: from 2005 to 2015, the number of Americans aged 18 to 34 with a roommate increased by 23%, according to the US Census Bureau, and about 32% of American adults cohabited in 2017 , according to the Pew Research Center. It does not count as one who lives with a romantic partner, but includes those who live with their parents.

The Atlantic writer Elli Volpe cited a number of reasons underlying the trend that appeared to be due to necessity, in part due to the Great Recession: higher housing costs, the burden of student loan debt and delays in marriage.

Living with a roommate is a way to cut costs in difficult times. Although millennia benefited from 67% increase in wages since 1970, according to Student-creditor report, this increase did not accelerate with the growth of living expenses.

Although cohabitation is a departure from 20 and 30-those who lived with their significant other in the past, this is nothing new.

Here's Volpe:

"The United States has seen this phenomenon before. When people moved to cities seeking employment in the 19th century, boarding houses became centers where a variety of immigrant residents, single men and women, workers of all kinds, could live and communicate with other people in common spaces.

"Now that housing is increasingly scarce and rents continue to grow (cities like Orlando, Salt Lake City and Knoxville are experiencing the fastest rental growth in the country), the experience of the boarding house is back on a smaller scale."

Growth of joint living quarters

Tenants go beyond the standard two- and three-room apartments; communal living or "living together" in large cities, such as New York and San Francisco, sprouted spaces, and this is just a modern version of yesterday's boarding house.

"The market for cohabitation, or "cohabitation," is rapidly overflowing, wrote Melissa Robinson from Business Insider, "Companies such as the" Open Door "," HubHaus, and WeLive, a subsidiary of the cooperating giant WeWork, compete for dollars of millennia as young people continue to move to expensive urban areas. "

common this is a shared accommodation that offers furnished apartments in San Francisco and New York, as well as Chicago and Washington, DC. Roomrs owns about 100 units of cohabitation in New York. In Oakland, California, 13 residents live in "Hacker house", provided by the Open Door group launcher.

And in San Francisco, middle-class workers earning less than $ 90,000 a year move to dormitories provided by colishing startup Scarcity, as a way to cope with lack of affordable housing,

The high demand for these places is only an indicator of the number of millennia looking for roommates as a way to save on housing costs. The general receives 300 applications for rooms in their buildings per week, Business Insider previously reported, and Scarcity had a list of expectations more than 8000 people in the beginning of 2018.

But a more affordable life is not the only advantage of living together. Technical director Arram Sabeti shares a house in San Francisco with nine roommates, News archive, and he previously said Business Insider that the creation of this communal living space cured his loneliness – and this was one of the best decisions he had ever made.

"Our whole house is a very, very ambitious group of people. We think of ourselves as friends and allies for a long time and, I hope, for the rest of my life, "he said.

Perhaps, therefore, in some cohabitations, residents pay a premium for so many roommates or for additional services.

"Home ownership as the goal of life has changed dramatically, and this is not limited to millennial events, I think it happens throughout society. In any case, the housing crisis disavowed the fantasy that home ownership means security, "said Matt Matsueo, Business Insider. "People just take care of belonging."

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