More Young Adults Living With Parents
The fact that younger Americans these days are facing some financial challenges is well documented. Rent has increased and so has student loan debt. That can make saving money to buy a home difficult. So, it shouldn't be too surprising to hear that there is an increasing number of young adults living with their parents. But new numbers from the Urban Institute make clear just how many. According to their research, the share of people between the ages of 25 and 34 who are living with their parents has increased from 11.9 percent in 2000 to 22 percent in 2017. “This translates to more than 5.6 million additional young adults under their parents' roofs between the two years,” the study says. “This trend matches the decline in young adults' marital rate (from 55.3 percent to 40 percent) during this period.” In short, young Americans are getting married and establishing households later in life. So what does this mean for the housing market? Well, it means there are a lot of potential first-time home buyers who are going to be looking for affordable, entry-level homes in the years to come. How, where, and when they decide to enter the market will affect competition, prices, and available inventory for buyers everywhere. More here.