ADULTS LIVING WITH PARENTS IN RECORD NUMBERS

Broke, busted, out of work, and out of luck, as of July, 52 percent of adults ages 18 to 29 years were living in a parent’s home, a Pew Research survey has found.
The proportion is up from 47 percent in February and is the largest proportion of young adults bunking with mom and/or dad in recorded American history, including the Great Depression, when the number swelled from 43 percent to 48.
The number has risen from a low of 29 percent in 1960 to 38 in 2000 and 44 in 2010.
About 71 percent of people between 18 and 24, including college students, were living with parents in July; among adults ages 25 through 29, the share was 28 percent.
As of July, 55 percent of young men and 50 percent of young women were living with a parent, compared to 50 and 43 percent, respectively, before the shutdown began.
One in ten young adults has been forced to move because of the economic shutdown, triple the rate of Americans generally, the poll found.
A quarter of 16-to-24-year-olds lost their jobs during the crisis, about double the rate of other age groups, according to a June Pew poll.
TREND FORECAST: The “move back to home” trend will put downward pressure on apartment rental markets, particularly in large cities where the exodus to escape the virus and rising crime has already begun.
The generation that has moved back home has also been hard hit since many of them work in leisure, hospitality, entertainment, tourism, and restaurant sectors that have been devastated by the lockdowns.
Until these sectors rebound, the demographic will continue live with their parents.