The coronavirus pandemic is pushing millions of young Americans back into their family homes, according to a new report from the Pew Research Center.
In July, nearly 26.6 million people between the ages of 18 and 29 – or 52% of all young adults – were living with one or both parents. That marks the first time the majority of people in that age group have done so, surpassing levels seen during the Great Depression. (Researchers note that data is sparse for the ‘30s, and levels may have been higher at some point between the 1930 and 1940 Census counts.)
"Essentially we saw about a little over 3 million more people moving home ... with their parents or grandparents, from a year ago," Cheryl Young, a senior economist at Zillow, told CNN. “A big share of that population that moved home are young people, Gen Z, 18- 25-year-olds, and even some millennials as well.”