No Place Like Home?

July 14, 2020

 

There's been plenty of news going around since the pandemic about young people moving back home. The phenomenon seems to be hardest hit in the United States. According to the site Zillow , the leading real estate data base company in the U.S., $726 million in rent is at risk as the Gen Z-ers move back home with their parents during the pandemic. They calculate that there's roughly $726 million in rent at risk.

 

Forbes says that "50% of millennials are moving back home with their parents after college." Also, a recent Harris Poll asserts that "student loan debt is the main trigger to deferred adult milestones "with over 1.5 million unable to afford just about anything in terms of the American dream.

 

Other issues causing young people to move back home are:

  • unemployment

  • the inability to find new employment

  • to escape cities where outbreaks are worse

  • others want to live close to their parents to take care of them if they become ill

  • some have work but need help with childcare as the new work-from-home paradigm explodes

 

What are your thoughts on the rush of young people moving back home? Is this a development in your part of the world? Leave your thoughts in the comment section below. 

 

 

 

 

 

 

 

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