new study from the Pew Research Center has revealed that most adults under 30 years old are now living with their parents. study says number of 18- to 30-year-olds who live at home has hit 80-year high. Around 52 per cent, or 26.6 million, of young people are at home with one or both of their parents. Researchers say that not since 1940 have so many of younger generation lived with their parents. Only in Great Depression of the 1930s was percentage higher. The researchers say there has been recent rise in the number of young adults moving back in with their parents. contributory factor to this spike is the economic downturn and rise in unemployment caused by coronavirus.
Regarding economy, financial analyst Jeremy Sopko said: "You have to take into account two huge factors: massive student loan debt and lack of available work." He added: "It's difficult situation that's been exacerbated by pandemic and it may take ...the better part of decade for younger demographics to recover and be financially stable enough to leave home." Another commentator said the trend could have adverse effects on property rental market. She said: "With lot of young people not renting, not moving into cities...there is lot of inventory coming onto market." Mr Sopko concluded: "For most part, nobody wants to be living at home with mom and dad."
