December 21, 2016

AND SO THE ERA OF HOPE AND CHANGE DRAWS TO A CLOSE: Percentage of Young Americans Living With Parents Rises to 75-Year High.

Despite a rebounding economy and recent job growth, the share of those between the ages of 18 and 34 doubling up with parents or other family members has been rising since 2005. Back then, before the start of the last recession, roughly one out of three were living with family.

The trend runs counter to that of previous economic cycles, when after a recession-related spike, the number of younger Americans living with relatives declined as the economy improved.

The result is that there is far less demand for housing than would be expected for the millennial generation, now the largest in U.S. history. The number of adults under age 30 has increased by 5 million over the last decade, but the number of households for that age group grew by just 200,000 over the same period, according to the Harvard Joint Center for Housing Studies.

Washington priced young people out of the housing market with the first bubble, and then priced them out again by re-inflating prices after the first bubble popped. If Millennials ever wake up to how badly Washington has screwed them, the political effects could be huge.

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