Record Number of Young Adults Living at Home: Active Listings Rising, Price Cuts, and New Inventory Coming Online.
Record Number of Young Adults Living at Home: Active Listings Rising, Price Cuts, and New Inventory Coming Online.
Abstract
The Fed has nearly no choice now but to boost rates as more in the public start realizing the challenge of using funny money to jack up home prices to crowd out young buyers. Nearly 30 percent of young adults now live at home with their parents. To build many homes takes a lot of labor and capital and the Great Recession put a cold blanket on home building for many years. We have a flood of homes that are hitting the market when consumer confidence is at very low levels: The last time we built this many homes was right before the Great Recession hit. Living at Home For the last few years, every article made it seem that everyone was buying and young professionals were buying up homes in mass. The trend is telling a different story: In modern history, we have a record number of young adults living at home. Price gains have been largely had by record low interest rates, low inventory, and the stay at home policies.