(CNN) The number of American young adults living with their parents is at or near an all-time high, and the coronavirus pandemic is likely the reason, according to a new analysis.
A new report by the Pew Research Center found that a majority of young adults -- 52% -- lived with one or both of their parents in July. Pew's analysis of monthly Census Bureau data notes that this is higher than any previous measurement.
"Before 2020, the highest measured value was in the 1940 census at the end of the Great Depression, when 48% of young adults lived with their parents," says the report, published Friday. "The peak may have been higher during the worst of the Great Depression in the 1930s, but there is no data for that period."
Pew defines young adults as 18- to 29-year-olds. The number of young adults living with parents grew to 26.6 million in July, an increase of 2.6 million from February, Pew said.
Young adults have been hit especially hard by the recent economic downturn and have been more likely to move than other age groups, according to Pew research
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rd1970 on September 5th, 2020 at 04:38 UTC »
The article is blaming the pandemic, but their graph shows it was already at Great Depression levels before it hit. This is a problem that’s happening across North America and many other areas of world.
My dad’s house cost him $20,000. My house cost me $400,000. And it’s not like wages have gone up 2000% in the last 30 years...
In a single generation we’ve transitioned from a society where a guy flipping burgers could buy a house to one where two people working good jobs can’t. It’s not just the price of homes either - it’s everything that went up with it: the down payment, property taxes, and insurance also increased proportionately. By the time you’ve paid the mortgage, utilities, insurance, property taxes, maintenance, etc. you’re easily at $3000 some months for a basic home.
I’ve never understood why this isn’t the #1 issue at every election at every level.
trailblaiser on September 5th, 2020 at 03:48 UTC »
Currently on reddit to put off packing boxes to move home to my mothers. I’m 28, and Ive lived on my own (happily and by choice) since 18 - this is the last place I thought I’d find myself.
DeezNutz_19 on September 5th, 2020 at 03:07 UTC »
Well I'm not going to live in some stranger's basement...