“For the first time in more than 130 years, Americans ages 18-34 are more likely to live with their parents than in any other living situation, according to a new analysis by the Pew Research Center. Less educated young adults are also more likely to live with their parents than are their college-educated counterparts — no surprise, Pew notes, given the financial prospects in today’s economy. Black and Hispanic young people, compared with white people, are in the same situation. But the overall trend is the same for every demographic group — living with parents is increasingly common. Still, young Americans are still less likely to live with their parents than their European counterparts, Pew says.
I find that the best statistics have great explanatory power, make sense when placed in the right context, and STILL manage to leave you amazed. These stats fit that bill for me and as the school year is ending, it’s a milestone that doesn’t mean what it did for generations past. 32.1% of young adults in the U.S live with parents, and 48.1% of young adults in the European Union Union live with parents.
Questions to Ponder: What are some contributing factors to this trend in the United States and Europe? What does this say about housing costs, economic, and cultural conditions?