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Pandemic Pushing Gen Z and Millennials to Move Back Home
Monday, September 14, 2020
It was a phenomenon 12 years ago that ended with a
huge decline in homeownership among Millennials, and now it is happening, for the
same reason to Gen Zas a huge surge in unemployment sends young adults home to
live with their parents. The root cause this time, of course, is vastly
different; a deadly virus rather than a general slowdown in the economy coupled
with mortgage defaults and delinquency. The
Pew Research Center has found that the share of 18-
to 29-year-olds living with their parents now constitutes a majority of that
age group, surpassing the share in the Great Recession and even topping the previous
peak during the Great Depression.
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