According to U.S. Census numbers, more young adults are living with their parents.
Between 2005 and 2011, the proportion of young adults living in their parents’ home increased, according to the U.S. Census Bureau.
The percentage of men age 25 to 34 living in the home of their parents rose from 14 percent in 2005 to 19 percent in 2011 and from 8 percent to 10 percent over the same period for women.
These statistics come from America’s Families and Living Arrangements: 2011, a series of tables from the 2011 current population survey from the U.S. Census Bureau providing a look at the socioeconomic characteristics of families and households at the national level.
“The increase in 25 to 34 year olds living in their parents’ home began before the recent recession, and has continued beyond it,” said the author, Rose Kreider, a family demographer with the Fertility and Family Statistics Branch, according to U.S. Census information.
Similarly, 59 percent of men age 18 to 24 and 50 percent of women age 18 to 24 resided in their parents’ home in 2011, up from 53 percent and 46 percent, respectively, in 2005.
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Taking such a large number of people out of the market — rental or purchase — can lower property values sharply, according to Ken. H. Johnson, a real estate professor at Florida International University and co-author of a study on whether it’s better to buy or rent, in the CNNMoney article.
“The real cost to home prices is the presence of vacant houses,” he said. Empty homes make communities less bustling and attractive. Yards get overgrown, paint peels and roofs sag, giving whole blocks a forlorn look. The vacant homes also can invite crime. All that depresses home prices.
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