Wall Street Journal staffer Laura Kusisto looks into reasons that might explain how more and more young adults, aged 18 to 34, now live with their parents than right after the Great Recession.
As of March, about 31.5% of 18-to-34-year-olds lived with their parents, a tick up from 31.4% last year, according to a report released Monday by the Census Bureau. Back in 2005, the share of young adults living with parents was just 27%.
The fact that young adults are less likely to leave home even when economy improves is related more to demographics, vs. the economy, according to Jed Kolko, an independent economist and senior fellow at the Terner Center for Housing Innovation at the University of California, Berkeley. Single people without children are more likely to continue living at home much later. Kusisto writes:
Mr. Kolko says that the rise in children living with their parents is largely related to the fact that people are marrying and having children later, not to the weak economy and housing market. Single people without children are more likely to continue living at home much later.