While there's been plenty of media coverage about Millennials stuck living at home with their parents due to the slowness of economic recovery, diminished wages for low-skilled workers, and college student debt, a recent paper from the Federal Reserve Bank of Kansas City shows that over the past 30 years the number of adults from every age bracket who are living with their parents has increased, in some cases as much as doubling.
One upshot for our cities and suburbs: Young adults are currently driving the market for new multifamily housing, and, over the longer term, it's anticipated that retiring Baby Boomers will continue to drive that momentum as they downsize.
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