There are fewer adult children living with their parents than there were a few years ago, according to a new report from the National Association of Realtors’ consumer website. But while the numbers have retreated a bit from their pandemic-era peak, they haven’t fallen much. In fact, the report found 33 percent of adults under the age of 35 live at home. In 2020, that number hit its all-time high of 33.6 percent. Hannah Jones, senior economist at the website, says affordable housing is the reason behind the trend. “The adults living with their parents today are largely employed, and many hold college degrees,” Jones said. “What’s holding them back isn’t a lack of qualifications, but rather, at least in part, a lack of housing they can actually afford. This is a supply story, not an employment story.” In other words, young Americans are educated and have good jobs but are living at home due to the deficit of approximately 4 million homes that keeps home prices and rent higher. (source)
