(CNBC) What Empty Nest? Weak Economy Means Living at Home

Posted by Kendall Harmon

The recession and weak recovery appears to be keeping many adult children from getting a home of their own, and that could have implications for the housing industry’s recovery.

A Census Bureau report released Wednesday found that between 2007 and 2011 there was a steady increase in the percentage of adults living in someone else’s house – and that increase has mostly been driven by adult children moving in with mom and dad.

In 2011, Census Bureau researchers found that 17.9 percent of people 18 and older, or 41.2 million people, lived in a house in which they weren’t the head of the household or that person’s spouse or significant other. That’s up from 16 percent in 2007, before the nation went into recession.

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Filed under: * Culture-WatchChildrenMarriage & FamilyYoung Adults* Economics, PoliticsEconomyHousing/Real Estate MarketLabor/Labor Unions/Labor MarketThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--

Posted November 30, 2012 at 7:15 am [Printer Friendly] [Print w/ comments]
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