Grown Kids Still Stuck at Home? Change Is on the Horizon.
Someday, surely, all the young adults still living with their parents will form their own households, creating steady housing demand. But only if prices stop going up so fast.
Eventually, young adults will move out of their parents’ basements and buy their own house.
Source: Bloomberg
When the pandemic hit last year, young adults moved back in with their parents in a big way. Now the share of 18-to-29-year-olds living with parents and grandparents is back about where it was before Covid-19 arrived.
Still, you might think that 42.8% of 18-to-29-year-olds living in their childhood bedrooms or maybe the basement — which is the September percentage estimated by University of Maryland sociology professor Philip N. Cohen from Census Bureau data — sounds like a lot. And yes, by the standards of the six decades preceding the Great Recession, it really is.1