The Parental Shadow Market

August 30, 2013 at 12:25 pm Leave a comment

An increasing number of folks who would normally be apartment renters are staying home with Ma and Pa:

In a report on the status of families, the Census Bureau on Tuesday said 13.6% of Americans ages 25 to 34 were living with their parents in 2012, up slightly from 13.4% in 2011. Though the trend began before the recession, it accelerated sharply during the downturn. In the early 2000s, about 10% of people in this age group lived at home…

Ms. Tsuong said many of her friends are spending $700 or $800 a month on rent. “I can move out if I really wanted to, but given the situation with rent and gas, I feel like I can save more living at home,” she said. “If you can save now, you’re sort of investing in your future…”

Recent surveys by Pew found over 60% of people ages 18 to 34 knew someone who had moved back in with their parents because of the economy, he said, and that four of five people ages 25 to 34 who were living with their parents were satisfied with the arrangement.

That may suggest there is less stigma attached to living at home, said Mr. Fry. “Living with your parents may not be what it once was,” he said.

Outside of the obvious implications for apartment managers this also has frightening implications for those of us with kids entering their twenties. Here we thought we were crossing the finish line and all of the sudden it’s been moved back ten years!

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Entry filed under: Housing Trends. Tags: , .

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