In 2020, a record number of 18- to 29-year-olds lived at home with their parents. In July, 52% of young adults were living at home, surpassing the previous high of 48% recorded in 1940 at the end of the Great Depression. This record return to the family home has been driven by the coronavirus pandemic and exacerbated by the overall economic downturn, record-low housing inventory along with a shortage of affordable entry-level homes and high levels of student debt. The number of young adults living with their parents grew across the board for all demographic groups and regions of the country.
Also in this issue:
- Key Retirement and Tax Numbers for 2021
- COVID-19 and the Importance of Disability Income Insurance
- Tips to Help Control Your Finances During the Pandemic