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Take a massive surplus of homes with more beds and baths than the average family needs, add no more "fog a mirror" loans, and what do you get?
Group homes.
I've said for a while that it was the only solution that was viable (and extended, extended family homes.) My preferred execution of it has been shared living arrangements for the elderly (like Real World with Depends).
The smart municipalities will license these for seniors and also encourage more "roommate" type arrangements for the elderly. Share the expenses of a cook, gardener, occasional therapist or nurse, etc.
Seniors don't make a lot of noise, eventually don't drive (so no big parking problems with the homes), and generally won't impact a neighborhood. On the other hand, extended-extended family homes could be host for up to seven cars and potentially a lot more noise. I'm seeing increasing examples of both.
Regardless, such living arrangements will drive down the prices on surrounding McMansions. But truly, there's no other use for these behemoths once all the funny money loans have dried up and all the posers have been foreclosed on.
I have heard of this sort of thing in surrounding communities in this area, but do not know of any specific instances.
Along with the licensing and zoning issues, we have a city ordinance limiting housing in residential areas inside the city limits to no more than 3 unrelated parties. This law is on the books primarily to keep landlords from buying large family homes to lease to a bunch of university students, increasing traffic and noise complaints, and effectively reducing property values in the neighborhood. I would imagine that this law would also limit the type of situation referenced in your article.
When our rental was available earlier this year we were contacted by two different groups interested in using the home. I think one was for seniors and the other wanted to use it as a halfway house for men.
It wasn't even a McMansion, just a 1550 sq ft house in a quiet neighborhood.
The newspaper in Bergen County, NJ, did a story a few years ago on people with adult mentally challenged chidren buying homes jointly--three or four together--for their children to live in with a supervisory attendant living with them. They were functional enough that some had jobs, but they would not be able to safely live on their own. The parents said they were using the money that otherwise would have gone for college or for a wedding to ensure that their children had a home for the future for when they would no longer be there to look after them.
The newspaper in Bergen County, NJ, did a story a few years ago on people with adult mentally challenged chidren buying homes jointly--three or four together--for their children to live in with a supervisory attendant living with them. They were functional enough that some had jobs, but they would not be able to safely live on their own. The parents said they were using the money that otherwise would have gone for college or for a wedding to ensure that their children had a home for the future for when they would no longer be there to look after them.
A friend of mine is one of those types of attendants, although the parents of the two adult women she lives with rent their apartment. Both women are in their thirties, one works at a daycare center and the other at a local community center. My friend just has to be there to do help them prepare meals (one of them attempted to make popcorn in the microwave when she was home alone and burned up the microwave, so while they are somewhat functional, they cannot be left alone to do some simple tasks), help them with laundry, drive them to the store, grocery shop, etc., and be there overnight in case of an emergency. In return she lived rent-free and was able to hold a part-time job while she completed nursing school.
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