One upside of the multigenerational household is that the oldest generation can take care of the youngest and vice versa. In the American single-generational model you have to spend out the wazoo for childcare and retirement home.
If you get along (which most people do) it’s great. My mom is retired, and my dad works from home. After my son started getting regular ear infections at daycare, my mom demanded to take him out of daycare. The ear infections stopped, he’s happy, my parents are happy, and we save a bunch of money.