In recent years it has become far more normal for people to live alone, particularly in large cities in the developed world. In my opinion, this trend could have both positive and negative consequences in equal measure.
The rise in one-person households can be seen as positive for both personal and broader economic reasons. On an individual level, people who choose to live alone may become more independent and self-reliant than those who live with family members. A young adult who lives alone, for example, will need to learn to cook, clean, pay bills and manage his or her budget, all of which are valuable life skills; an increase in the number of such individuals can certainly be seen as a positive development. From an economic perspective, the trend towards living alone will result in greater demand for housing. This is likely to benefit the construction industry, estate agents and a whole host of other companies that rely on homeowners to buy their products or services.
However, the personal and economic arguments given above can be considered from the opposite angle. Firstly, rather than the positive feeling of increased independence, people who live alone may experience feelings of loneliness, isolation and worry. They miss out on the emotional support and daily conversation that family or flatmates can provide, and they must bear the weight of all household bills and responsibilities; in this sense, perhaps the trend towards living alone is a negative one. Secondly, from the financial point of view, a rise in demand for housing is likely to push up property prices and rents. While this may benefit some businesses, the general population, including those who live alone, will be faced with rising living costs.
In conclusion, the increase in one-person households will have both beneficial and detrimental effects on individuals and on the economy.(band 9)