52% of young adults in US live with parents
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READING:
A new study has revealed that most adults under 30 are now living with their parents. The number of 18- to 30-year-olds who live at home has hit an 80-year high. Around 52 per cent of young people are at home with one or both parents. Researchers say that not since 1940 has this figure been as high. In the Great Depression of the 1930s, the percentage was higher. There has been a recent rise in the number of young adults moving back in with their parents. A contributory factor to this is the economic downturn and a rise in unemployment caused by coronavirus.
An analyst said: "You have to take into account two huge factors: massive student loan debt and a lack of available work." He said this situation has been exacerbated by the pandemic. He said: "It may take...the better part of a decade for younger demographics to recover and be financially stable enough to leave home." He concluded: "For the most part, nobody wants to be living at home with mom and dad." Another analyst said the trend could adversely affect the property rental market. She said with young people not moving into cities and renting, there are many empty apartments.
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