Heard a neighbor complain recently that their 25-year-old has moved back home and is crashing on their couch? That story isn’t an uncommon one. Nearly two million 18-34 year-olds were living with their parents between 2006 and 2010, according to the “State of the Nation’s Housing” report released in June by Harvard University.
The percentage of 18-34 year-olds living with their parents between 2006 and 2010 increased 2.7 percent, bringing the total number to 1.95 million. That’s the largest decline of household formation numbers for any age group during that time. But Eric Belsky, managing director of the Joint Center for Housing Studies, remains optimistic that this demographic will start forming households in the near term—and start buying homes in the long term.
Read more...Gen Y Household Formation: Calm Before the Storm - Housing Trends - Multifamily Executive Magazine