PRESENTING: The New American Dream Home — Where Multiple Generations Of One Family Live Together

lennar nextgen

Photo: John Burns Real Estate Consulting via YouTube

The bottom of the U.S. housing market seems to be behind us and mortgage rates are at record lows.However, Americans are reluctant to buy a home due to shaky labour market conditions, weak wages, and the haunting memory of the recent housing bubble.

Rentals are popular and multi-family units are rising rapidly.

But is the dream of owning and living in a traditional home dead?

Homebuilder Lennar doesn’t think so.

In 21 markets around the country, Lennar is offering its NextGen design to address the rising demand for homes that house more than one generation of adults.  Unlike most multi-family houses, the NextGen actually looks like a traditional home, and it’s marketed as a “home within a home.”  But it offers plenty of privacy for both sides of the family.

Adam McAbee of John Burns Real Estate Consulting walked through one of the houses.

And from what we can tell, the new normal isn’t as depressing as we would’ve thought.

This particular development is in California's Santa Clarita Valley. This plan is sold out due to popularity

This house is just under 3,500 square feet

To the left of the garage is a private third car garage

The second family has its own private entrance

It has its own private side-yard

And it's own private front door

The mini kitchen has a full size fridge and microwave, but no stove

A discreet door provides access to the main house

The living room is quite comfortable

To save space, it has a stackable washer and dryer

It's a bit tight, but it's a full bathroom

This unit has one bedroom

But the bedroom goes straight into the backyard

...which is shared with the main homeowner

Here's a video walk-through

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.