Money Matters

The share of American young adults living with their parents is the highest in 75 years

(Source: qz.com)

Parents in the US cannot get rid of their kids. The share of young adults in their late 20s living with their parents is the highest it’s been in 75 years.

According to a recent study by the Pew Research Center, 33% of 25-29 year olds lived with their parents or grandparents in 2016. This is almost three times as many as in 1970.

The share of young adults who don’t leave the nest has steadily increased in recent decades, and accelerated after the 2008 financial crisis. Across education levels, race, gender, and region, no group has been immune from the trend.

Pew’s researchers think late twenty-somethings are boomeranging back home because, in contrast to previous generations at this stage of their lives, they are less likely to have a well-paying job and less likely to be married. It turns out that no job and no partner makes living with your parents a lot more appealing.

More Info: qz.com

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