Tags: millennials | family | housing | real estate

Report: Number of Millennials Living With Parents at 75-Year High

Image: Report: Number of Millennials Living With Parents at 75-Year High

(AP Photo/Anthony Devlin)

By    |   Wednesday, 21 Dec 2016 10:13 PM

Nearly 40 percent of millennials were living with their parents, siblings or relatives in 2015 — a 75-year high, according to a data analysis by the real estate sales tracker Trulia.

While the economy has been stronger, 39.5 percent of those between 18 and 34 were living with parents or others that year, The Wall Street Journal reported.

The percentage has been rising since 2005.

The peak year was 40.9 percent in 1940, just a year after Great Depression officially ended, according to Trulia's analysis of Census Data. The low was 24.1 percent in 1960.

From 1980 to the mid-2000s, the figures ranged from 31 to 33 percent.

The higher rate has resulted in a low demand for housing by millennials — a record number in the history of the United States, the Journal reported.

In the last decade, the number of adults under age 30 has risen by 5 million, though the number of households have only increased by 200,000 over the same period, according to data from the Harvard Joint Center for Housing Studies in the report.

Higher rents in many cities and tougher lending requirements have made acquiring housing more difficult for many millennials.

"I don't think those are challenges that are going to keep young households permanently out of the housing market, but it may keep their homeownership rate near historic lows for likely the indefinite future," Ralph McLaughlin, Trulia's chief economist, told the Journal.

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Nearly 40 percent of millennials were living with their parents, siblings or relatives in 2015 – a 75-year high, according to a data analysis by the real estate sales tracker Trulia.
millennials, family, housing, real estate
238
2016-13-21
Wednesday, 21 Dec 2016 10:13 PM
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