Astonishing isn’t it; a state where youngsters preferred to live an independent life since more than 130 years is opting another living style.
In accord with information provided by Pew Research Center, American adults aged 18-34 were more likely to be living in their parents than living with a spouse or partner in their own accommodations.
Exclusive report written by Market Watchers cites (for readers’ concern) – taking in view Census figures of year 1880, the Pew report stated:
Broad demographic shifts in marital status, educational attainment and employment have transformed the way young adults in the U.S. are living.
The estimates calculated in year 2014 referred to:
|An approximate of 31.6% of young adults to be living with their partners/spouses in their own household – slightly bearish to an estimate of 32.1% for those sharing residence of their parents|
|An approximate of 22% of young adults lived either with their grandparents, in-laws, siblings or college residences|
|An approximate of 14% of young adults lived independently or were single parent|
INSIGHT: Young men were more likely to live with a parent instead of a partner.
Not to mention, nearly 62% of the 18-34 years olds had been residing with their partners in their own accommodations during 60s – bullish figures ever; however the percentage plunged since then.
“This turn of events is fueled primarily by the dramatic drop in the share of young Americans who are choosing to settle down romantically before age 35. Dating back to 1880, the most common living arrangement among young adults has been living with a romantic partner, whether a spouse or a significant other.” – Pew senior economist, Richard Fry
The life style modification might be a result of bearish unemployment rate amid an era of stronger economy and housing costs that have surged since the 2008 slump.
On a related note, upon this *Sheldon Garon opinionates that living with one’s parents let individuals save money for a down payment on a home of their own.
(*author of ‘Beyond our means: Why America spends while the world saves?’)