– Record 21 Million ‘Young Adults’ Now Live With Their Parents (ZeroHedge, Aug 2, 2013):
Just about a year ago we questioned the “demographic demand” thesis for why the US housing ‘recovery’ would become self-sustaining and lead to yet another fiscal and monetary ‘nirvana’. However, while the ‘household formation’ meme remains front-and-center among bloviating Fed apologists; the sad facts are that not only is household formation actually still falling but, as a recent Pew Research study finds, a record 21 million young adults are now living at home with their parents.
Since 2007, young adults have grown increasingly likely to live at home. This is a new trend with a stunning 45-year high 36% (21 million) of 18-31 year-olds back with mom-and-pop. By way of corollary, with one-third of all Italian adults living at home (and 61% of young-adults), it would seem arguing that a housing renaissance in the US is around the corner on the basis of demographics is risible at best.