(CBS Local) – Despite an economy on the upswing, combined with the current unemployment rate being its lowest in recent years, more young Americans are living with their parents than ever before.
The Wall Street Journal found, in sifting through information provided by real estate company Trulia, that more young Americans are living home than they have since 1940.
‘Young American’ is described as someone between 18 and 24, and the numbers are in: in 2015, 40% of young Americans lived with either their parents, siblings or other relatives. That number had been on the rise in recent years despite the economy growing out of the recession, where in previous economic cycles the amount of those living with their parents would decrease as the economy increased.
Time claims that experts point to difficulties getting mortgages as well as rising rents and the general life difficulties of making it on your own.
The Harvard Joint Center for Housing Studies found that despite there being five million more Americans under 30 since 2006, the number of households is only up a relatively puny 200,000.