Colorado Association of REALTORS | Report: A Quarter of Young Adults Living with Their Parents
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Report: A Quarter of Young Adults Living with Their Parents

Aug 15 2022

Report: A Quarter of Young Adults Living with Their Parents

CAR’s Market Trends reported the median home price for a single-family home was $635,000 in July 2022. Since financial experts advise putting down a 20% down payment on a home, this creates a “boomerang effect,” which is when younger adults move back in with their parents to save for that payment.. According to the Pew Research Center, in 2021, 25% of 25- to 34-year-old adults were living in a multigenerational family household. In 2017, 32% of the adult U.S. population was living in a shared household, which is defined as a household with “at least one ‘extra adult’ who is not the household head, the spouse or partner of the head, or an 18- to 24-year-old student.”

https://www.yahoo.com/video/quarter-young-adults-now-boomerang-120000465.html

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