More than two years after moving in with their parents, many young adults are still there, according to a recent report.
To that end, multigenerational living has grown the fastest among adults ages 25 to 34.temporarily spiked"The pandemic was a short-term rocket, but the levels today are still significantly above where they were in 2019 — and it's been rising over the past 50 years," said Richard Fry, a senior researcher at Pew.In most cases, 25- to 34-year-olds are living in the home of one or both of their parents.
The percentage of young adults living with parents or grandparents is even greater among men and those without a college degree.Young adults without a bachelor's degree tend toNot surprisingly, older parents are also more likely to pay for most of the expenses when two or more generations share a home. The typical 25- to 34-year-old in a multigenerational household contributes 22% of the total household income, Pew found.
For parents, however, supporting grown children can be a substantial drain at a time when their own financial security is at risk.since the early 1980s, the cost of having young adults living at home has risen sharply. But, overall, there is an economic benefit to these living arrangements, Pew found, and Americans living in multigenerational households are less likely to be financially vulnerable.
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