Tuesday, March 01, 2016

Why millennials are staying away from homeownership despite an improving economy

The L.A. Times reports:
The share of 18- to 34-year-olds who are married and with kids has fallen steadily to 20% from almost 50% in 1970. That means fewer people feel compelled to go out on their own or move out of apartments they share with friends and other roommates.

For whatever reason, millennials are also staying in their childhood bedrooms longer. From 2000 to 2005, the share of young adults living with parents remained at about 27%. Then it started to rise, propelled by the economic downturn that began in 2007. But to the surprise of many analysts as well as parents, that share has continued to tick higher, climbing to 31.5% in 2015, a full six years after the end of the Great Recession.
This is what Barack Obama calls a better economy.