Young Adults Don’t Plan to Move Out Anytime Soon, Study Shows

Filed in Economics, Housing Trends by on February 4, 2014 0 Comments

You know you can’t go home again. It looks like our children have figured out how to solve that problem: They never leave.

NAHB Economics has analyzed data from recent Census reports to find that the share of young adults ages 18 to 34 living with parents increased sharply in the late 2000s. It’s true that more people are in college between the ages of 18 to 24, making them less likely to leave the nest, but the NAHB study also finds that “deteriorating economic situation, rising unemployment rates and housing costs in the late 2000s help explain increased willingness of older young adults ages 25 to 34 to live with parents or parents-in-law.

“These older young adults traditionally represent about half of all first-time home buyers. Their delayed willingness and ability to leave parental homes and strike out on their own contributed to suppressing housing demand further during the Great Recession,” the study says.
But we may be turning the corner. By 2012, “some states registered modest declines [in adults living with parents,] signaling that pent-up housing demand may finally start turning into real housing demand.”

Read the full report here.

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