Economy
Why Millennials Aren't Forming New Households
Young adults aren’t driving the growth in American households, and it’s not just because they’re still living with their parents.
Recovery or no, the housing news is grim for Millennials. A new report from Goldman Sachs echoes the new findings from the Pew Research Center last month: The economic recovery has not shown any decline in the share of young adults who are living at home with their parents.
Since the start of the recovery (in 2010), the share of 18–34 year-olds who are living at home has, in fact, increased. According to the latest figures, about a third of Millennials are sharing living quarters with their folks. While this percentage stopped growing during the second half of 2014, it hasn’t shown any meaningful shift. Despite the recovery, they’re still stuck.