Millennials are starting to realize that living at home may be a longer-term proposition. Moving back home is being motivated by heavy levels of student debt and jobs that simply pay a lower wage. These trends run directly into the current reality that rental prices are soaring and home values are once again near peak levels. So you are left with a situation where young adults who try to venture out on their own are finding a market that they cannot afford. So naturally, this has had an impact on marriage and when people plan on starting families. It has also created a big impact in terms of younger adults saving for retirement (most are not saving). What are the implications of this housing crisis for Millennials?
Young adults living at home – a new trend
It should be clear that this is a new trend in regards to young adults forgoing to venture out on their own and starting their own families and households. The figures highlight a unique situation and this will trickle down into a variety of segments of society including buying furniture, appliances, and all the trappings of home life.
This post was published at MyBudget360 on October 10, 2017.
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