More young adults living with their parents

As if massive student debt, high home prices, and low inventory weren’t enough, the pandemic of the last year has more young adults living with their parents than any other time since the Great Depression of the 1930s. The Pew Research Center estimates that approximately 52 percent of Americans aged between 18 and 29 are living with their parents.

Moreover, analysts predict this isn’t going to change anytime soon as vaccinations roll out but the effects of the pandemic linger.

Another interesting development is the increase in multigenerational homes which were purchased by 16 percent of buyers in 2020, up from 11 percent in 2019.

Living with Mom & Dad

Green Escrow | Real Estate News

A new report based on census data by the Pew Research Center states that young adults from 18 to 34 re more likely to live with a parent than to get married or move in with a romantic partner. 35 percent of young men are living with a parent while 29 percent of women are giving at home. Approximately 14 percent of 18 to 34 year-olds live alone according to the study.

Of course, the trend of moving back home began with the recession of 2008 primarily due to fewer job opportunities and rising student debt.

Interestingly, the percentage of young adults living together has decreased substantially since 1990.