“You would expect young adults living at home to return to historic norms,” said Aaron Terrazas, senior economist at Zillow, speaking about how we’ve recovered from the housing bubble. “But the trend hasn’t decreased — if anything, it’s increased.”
Fewer millennials are moving into their own place because housing prices are outpacing wages, Terrazas said.
Student loan debt has also become a major barrier to home ownership in America. More than 80 percent of people age 22 to 35 with student debt and who haven’t bought a house yet, blame their educational loans, according to the National Association of Realtors.
Here are the cities in which the most millennials reside with mom.
Be the first to comment