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Home Ownership Among Young People Declining

More Young People Are Dealing with High Unemployment & Choosing to Move Back in With Parents

Living with Mom & Dad

Furthermore, more young people are choosing to remain or return to their parents' homes, rather than renting or buying. A recent survey by the Pew Research Center found that 29 percent of adults aged 25 to 34 had moved back in with their parents in recent years. And fewer people establishing their own households means fewer young people buying homes, Goodman said. 

With buyers under 35 making up a full third of the market last year, according to the National Association of Realtors, continued decline in this sector could hamper economic recovery, Goodman said. 

"It has real implications for the market – not just for young pp but everyone who’s participating in the market," he said. 

So in the meantime, I'll just keep browsing real estate listings and dreaming.

 

  • Sarah Shemkus

    Sarah Shemkus is an award-winning freelance journalist, marketing enthusiast, accomplished baker, occasional globetrotter and total nerd (with a particular fondness for spreadsheets). Most recently, she reported on business and real estate … Read more...