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Rising Trend of Young Adults Living with Parents May Dent Consumer Spending
Rising Trend of Young Adults Living with Parents May Dent Consumer Spending
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BTCCSquare news:
Nearly one in six young adults aged 25 to 34 now live with their parents, up from 11% in 2005, according to Census data. This generational shift—fueled by soaring housing costs, student debt burdens, and a tougher job market for recent graduates—threatens to suppress economic activity as cohabiting millennials spend less than independent peers.
The unemployment rate for 22-27 year olds with college degrees stands at 4.8%, higher than the national average. With rental prices and mortgage rates near historic highs, financial constraints increasingly dictate living arrangements. 'When nest eggs become nest stays,' observes one economist, 'the Ripple effects touch everything from appliance sales to wedding registries.'
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