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Bottom Line: Creative living arrangements are community approaches to keeping people in their homes.
As the housing crisis unravels in 2009, people are adopting innovative living arrangements that reduce expenses, make mortgages affordable, and provide steady streams of income. One example of this is shared living arrangements. In this arrangement, two or more unrelated people share a home or apartment. Each person has a private room but shares common areas. Both parties can pay rent or there can be a service exchange in lieu of money. In a service exchange, one person provides childcare, elderly assistance, or other needed duties for another person. This is a low cost way to maintain stability and protection for people who might otherwise be unable to afford housing.