Homesharing in the News
Gen Z's big gamble
Statistics reveal a significant increase in the number of young adults living with their parents in both the UK and the US over the past decade. Economic factors such as high rent prices and the unattainability of homeownership contribute to this trend. Additionally, societal attitudes towards living with parents have shifted, with many now viewing it as a practical financial decision rather than a sign of laziness. While living with parents offers financial stability for some, it also raises questions about the evolving concept of adulthood and the challenges faced by young people in achieving independence amidst economic uncertainty.
Business Insider, February 26, 2024
NBC5 In Depth: Is home sharing for you?
NBC5 interviews the Executive Director of HomeShare Vermont
NBC5 WPTZ, September 11, 2023
Town, Community Futures exploring home sharing for seasonal workers
The Drumheller Mail, August 16, 2023
Community Futures Big Country, in collaboration with the Town of Drumheller, Drumheller and District Chamber of Commerce, and Travel Drumheller, is addressing the housing challenge in Drumheller, where the rental vacancy rate is virtually zero. They are exploring the potential for a home-sharing option to cater to the needs of seasonal and temporary workers. The initiative stems from findings in the Town of Drumheller Housing Survey and the Travel Drumheller Destination Development Plan, which identified a shortage of short-term housing for employees. Community engagement, including information and a survey, was launched to gauge interest among residents in becoming hosts or finding accommodations. If successful, the project could benefit both employers struggling to find local workers and employees from outside the region, potentially offering year-round short-term housing solutions.
Rental platforms connect students in Ontario, B.C. with seniors who have extra space
The National Post, August 14, 2023
Home-sharing platforms such as Sparrow Living Inc. and SpacesShared are witnessing a surge in demand from students in Ontario and B.C. as they seek housing solutions for the upcoming fall term. These private companies connect students with homeowners who have extra space, aiming to address housing affordability and combat loneliness. Sparrow, which received $500,000 in federal funding last year, estimates there are over 12 million empty bedrooms in Canada. They charge a one-time fee and perform background checks, offering homeowners passive income opportunities and students below-market-rate housing. In contrast, the Canada HomeShare program, led by not-for-profit HelpAge Canada, pairs seniors with students in exchange for light housework and doesn't charge fees, emphasizing social work support and screenings.
These home-sharing platforms aim to match students with seniors who have empty bedrooms
The Globe and Mail, August 9, 2023
Sparrow Living Inc. and SpacesShared are two Canadian companies addressing the housing shortage by matching students and renters with homeowners who have unused bedrooms. Both platforms aim to turn vacant spaces into long-term rentals, offering immediate housing solutions.
SpacesShared, launched in 2023, has partnered with colleges and universities to connect students with homeowners. Sparrow, operating since 2021, has already brokered 110 home-share agreements and plans to reach 2,000 next year.
Both platforms emphasize compatibility between hosts and renters and take a cut of the rental revenue. Sparrow received funding from Accenture PLC and Canada Mortgage and Housing Corp., with a forgivable federal loan based on meeting specific milestones. These initiatives reflect the pressing need for innovative housing solutions in Canada.
Strange bedfellows: China’s youth share beds with strangers to cover rent in big cities as living costs and unemployment bite
South China Morning Post, August 7, 2023
An unusual new budgeting trend is emerging in China’s largest cities; two strangers, unable to afford to rent individually, split the cost of a room and share one bed.
The arrangement, dubbed “bedmates” on mainland social media, has been adopted by young workers and recent graduates who face high unemployment and financial insecurity in China’s struggling economy.
The popularity of the new phenomenon can be seen in the numerous posts seeking bedmates on the social media platform Xiaohongshu with hashtags like “sharing the same bed in a shared room”.
A 28-year-old moved in with an 83-year-old as part of a 'homeshare.' It's been a win-win for both.
INSIDER, July 23, 2023
Christine Rahman, a 28-year-old in London, found an affordable place to rent through a homeshare opportunity. She pays a little over $6 a day to live with Margaret Smith, an 83-year-old woman with Parkinson's disease and visual impairment. In exchange for reduced rent, Rahman helps Smith with tasks like cooking, gardening, and providing companionship. They've developed a close bond, with Rahman becoming part of Smith's family. While Rahman's friends envy her savings, they're concerned about the time commitment. Rahman enjoys the experience and values the perspective Smith offers, likening it to having grandparents in her life.
This Group Is Betting On Shared Housing As A Path Forward For Hawaii Seniors
Honolulu Civil Beat, July 17, 2023
Homesharing Hawaii, a nonprofit program under the Hawaii Intergenerational Network, connects seniors who have spare rooms with renters who can provide companionship and assistance. The program aims to address social isolation and the lack of affordable housing through senior and intergenerational home-sharing. However, the organization has struggled to attract enough homeowners to expand the program effectively. Home-sharing is seen as a cost-effective way to address the challenges faced by Hawaii's aging population, including social isolation and the increasing risk of homelessness among seniors. The program conducts thorough background checks and interviews to ensure safe matches between homeowners and renters. While there is strong interest from seniors seeking rentals, the number of available homes in the program is limited. Funding and staffing are essential for program growth, and outreach efforts involve building relationships with community organizations and leaders.
Homesharing: 'My tenant feels like another daughter'
BBC, May 18, 2023
Some people who are struggling with the cost of living crisis are turning to homesharing as an alternative housing solution. The scheme matches elderly homeowners who have spare rooms with young renters who need a place to stay. The rental cost is low, with utility bills included, and in return renters help around the house with cooking and basic DIY, as well as providing company.
Christine Rahman, 28, homeshares with Margaret Smith, 83, in Lewisham and they have now become friends.
Column: Home sharing can address loneliness, housing deficit
Star Advertiser, May 11, 2023
News comes from the U.S. Surgeon General that loneliness is “the latest public health epidemic” and the homesharing model can help address this in older, vulnerable populations.
How a university-community home-sharing collective is creating a new model for affordable housing in West Philadelphia
Brookings, April 24, 2023
The article discusses the challenges posed by high housing costs, displacement pressures, and a lack of aging-in-place options in the historically Black West Philadelphia neighborhood of Mantua, which borders University City. It highlights a community-university partnership called Second Story Collective, initiated by Drexel University and community members. The program aims to address these challenges through an intergenerational home-sharing model, where students and neighbors live together in intentional communities, offering affordable housing options for both students and long-term residents. The project also includes efforts to help older homeowners repair and retrofit their homes to age in place and create new intergenerational co-housing developments. The program demonstrates an alternative affordable housing strategy for university-adjacent neighborhoods and emphasizes community engagement and bridge-building.
Sparrow Raises $1 Million For Homesharing Platform Helping Canadians Live Better Together
Yahoo! Finance, October 18, 2023
Sparrow, a technology-driven social enterprise in Canada, has secured $1 million in funding to support its homesharing platform and community. The Government of Canada provided $500,000 through the National Housing Strategy Innovation programs, while Accenture also contributed $500,000. Sparrow's platform connects people with spare bedrooms to those in need of accommodation for at least two months, addressing both housing affordability and loneliness issues. The platform ensures safety through identity verification, background checks, and compatibility matching. It aims to utilize the estimated 12 million empty bedrooms across Canada to offer budget-friendly accommodation options and build social connections.