Young Adults Living with Parents Fuel Luxury Boom, Morgan Stanley Says
- Nearly half of 18 to 29-year-olds in the US still live at home
- With more disposable income, young are driving luxury sales
Jaeger-LeCoultre watches, a unit of Cie. Financiere Richemont SA, at. store in New York, U.S
Photographer: Michael Nagle/Bloomberg
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Record numbers of young adults living at home with their parents are helping drive the boom for luxury goods in the US and UK, according to Morgan Stanley.
Recent US Census data shows that nearly half of all young adults ages 18 to 29 are living with their parents — the highest level since 1940.