In 2015, almost 40% of young Americans were still living with their parents or other relatives, marking the largest percentage in 75 years and running counter to trends of previous economic recoveries.
The share of Americans between 18 and 34 living at home has been steadily rising since 2005, according to Trulia’s analysis of census data. Experts say the phenomenon is due to rising rents and tough mortgage-lending standards combined with Millennials’ habit of getting married and having children later in life, the Wall Street Journal reports.
The result is less demand for housing than anyone expected. The number of adults under age 30 increased by 5 million over the last decade, yet that group has only formed 200,000 new households, according to the Harvard Joint Center for Housing Studies. [WSJ]
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