That’s a fact. (And we all know what the 1930’s were about.)
Whether it’s due to long term trends about marriage, overwhelming student loan debt, a negative attitude toward acquiring things, a delay in taking on adulthood, some combination of the above, or something else entirely, Millennials are living with their parents in numbers not seen since the Great Depression.
32% of 18-34 year olds are living “in their parents’ basement.” That’s now more than are living with a spouse or partner. And it’s not all about student loan debt, as 36% of those with a high school education or less are living at home.
The age when young people first get married has risen from 21.3 years in 1956 to 25.8 in 2008, and is escalating quicker, with the current number all the way up to 27.8 years. It appears that somewhere over a quarter of those in high unemployment groups and those with lower income prospects are not marrying and may never marry.
I don’t claim to have all of the answers, but I do my best to keep a finger on the pulse of what’s going on in your housing market. Remember…
“I work harder to make good things happen!” -Bob