More young adults are living with their parents now than during the Great Depression.
Over half of the young adults in America have moved home with a parent during the COVID-19 pandemic.
Research released by the Pew Research Center shows that more young adults, ages 18 to 29, in America are living with their parents now than those who did during the Great Depression.
The Pew Research Center analyzed data from the monthly Census Bureau that showed that, in July 2020, 52 percent of young adults reported living with one or both parents—that's about 26.6 million young adults! This is up from 47 percent reported in February 2020.
For some, the move was related to a college dorm or campus closing—23 percent reported this as their move motivation—while 18 percent reported financial stress or job loss drove their move. Pew Research reports that the pattern is consistent with employment losses since February. The largest group affected, those aged 18 to 24, are more likely than other age groups to lose jobs or take a pay cut under current circumstances.
With so much uncertainly and turmoil, families come together out of both a financial need and an emotional need. While most people will likely try and move out on their own as soon as they can, living back home can be a positive experience. Learning to know parents as adults, re-establishing bonds with those we may have lost touch with, and being together with those we love most can be a silver lining to having to move back in with Mom and Dad.
Are you someone who has moved home during the pandemic? Have you had an adult child move back home during the pandemic? How was the experience been for you? We want to hear all about it in the comments.