More and more adults in every age category are staying or returning home. What will that mean for the future of housing?
The economic recovery hasn’t rescued Millennials who are stuck living at home with their parents. This much we know already. Since 2010, the share of adults ages 18 to 34 living at home has increased, owing to the slow speed of the recovery, diminished wages for low-skilled jobs, and the weight of debt for college students (in particular for those who do not graduate).
But it’s not just Millennials who are staying home. Gen X-ers are also moving back into their parents’ houses. And among older adults, too, the share of adults staying or moving home is on the rise. A recent paper from the Federal Reserve Bank of Kansas City shows that, in fact, the share of adults from everyage bracket who are living with their parents has grown over the past 30 years.
“From 1980 to 2013, the share of young adults living with their parents more than doubled,” the paper reads. “Similarly, the share of intermediate-age adults living with their parents doubled from 1980 to 2013.”
More
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
Millinials killing America.
ReplyDelete@2:27, how are "Millennials" killing America, when the people in charge are not Millennials? Plus you can not even spell the word correctly.
ReplyDeleteThis is simply not true. Blame the Baby Boomer generations. The early Baby Boomer (1946-1954) generation called themselves the Jones,Alpha's, yuppies,zoomers, and cuspers. They were greedy pigs in the python. The late Baby Boomer (1956-1964) generation consider themselves as the trailing edge generation. The Baby Boomers were self centered. They loved their drugs,sex and rock and roll. They own 80% of personal financial assets. They pop 77% of prescription drugs. They pop 61%of over the counter drugs. And, 80% of this generation spend more leisure time. This generation were self centered, hungry for power and takers. They force their kids out into the real world without preparation or survival skills. The kids had to depend on government student loans, government assistance or their grand parents. The Baby Boomer generations gave nothing back to society except more taxes. This is why their children and grand children live at home. We create this mess. Don't be mad. Now, deal with it.
ReplyDelete