A new study the Pew Research Center has revealed that most adults 30 years old are now living their parents. The study says the number 18- to 30-year-olds who live at home has hit an 80-year high. Around 52 per cent, or 26.6 million, of young people are home with one or both of their parents. Researchers say that not since 1940 have so many the younger generation lived their parents. Only in the Great Depression of the 1930s was the percentage higher. The researchers say there has been a recent rise the number of young adults moving back in their parents. A contributory factor to this spike is the economic downturn and a rise in unemployment caused coronavirus.
Regarding the economy, financial analyst Jeremy Sopko said: "You have to take account two huge factors: massive student loan debt and a lack available work." He added: "It's a difficult situation that's been exacerbated the pandemic and it may take ...the better part a decade for younger demographics to recover and be financially stable enough to leave home." Another commentator said the trend could have adverse effects the property rental market. She said: "With a lot young people not renting, not moving cities...there is a lot of inventory coming the market." Mr Sopko concluded: " the most part, nobody wants to be living home with mom and dad."
