Today it’s not only technology that is shifting the way real estate professionals do their work. The consumer, the first-time buyer especially, is changing in terms of their demographic. As indicated by Pew Research, marriage rates have continued to decline, and the share of U.S. adults living with an unmarried partner has risen. The cultural mores surrounding cohabitation appears to be not as strong as it had been in prior decades.
In many cases cohabitation appears to be a choice based upon resources and the modernization of social mores.
Here are some of the findings from the Pew Research report:
1 A larger share of adults have cohabited than have been married. It’s now more common to have cohabited than to have married. Among adults ages 18 to 44, 59% have lived with an unmarried partner at some point in their lives, while 50% have ever been married, according to Pew Research Center analysis of the National Survey of Family Growth. By contrast, in 2002, 54% of adults in this age group had ever cohabited and 60% had ever married.
2 Most Americans (69%) say cohabitation is acceptable even if a couple doesn’t plan to get married. Another 16% say it’s acceptable, but only if the couple plans to marry, and 14% say it’s never acceptable for an unmarried couple to live together.
3 Married adults have higher levels of relationship satisfaction and trust than those living with a partner. Married adults are more likely than those who are living with a partner to say things are going very well in their relationship (58% vs. 41%). They also express higher levels of satisfaction with specific aspects of their relationship.
4 Many cohabiting adults see living together as a step toward marriage. About two-thirds of married adults (66%) who lived with their spouse before they were married (and who were not yet engaged when they moved in together) say they saw cohabitation as a step toward marriage. Among cohabiting adults who were not engaged when they moved in with their partner, 44% say they saw living together as a step toward marriage.
5 About four-in-ten cohabiting adults cite finances (38%) and convenience (37%) as major reasons they moved in with their partner. By comparison, just 13% of married adults cite finances and 10% cite convenience as major reasons why they decided to get married.
To read the complete article, go to: https://pewrsr.ch/2KkgJfz
If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.
Counsellors Title Agency, www.counsellorstitle.net, founded in 1996, is one of New Jersey’s most respected title agencies, serving all 21 New Jersey counties with title insurance, clearing title, escrow, tidelands searches, and closing and settlement services for commercial or industrial properties, waterfront properties and marinas, condominiums, townhouses or residential single family homes. Counsellors Title also features its own Attorney Settlement Assistance Program™ [ASAP], which is an individual resource customized to fit the needs specifically of real estate attorneys, including, Documentation, Preparation, Disbursement of Funds, Attendance at Closing, HUD Preparation or Post-Closing Matters.
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