MILLENNIALS MOVING OUT OF MOM AND DAD'S PLACE, STUDY SHOWS

Source: CNBC

If you have an adult child living at home, you could become an empty nester sooner than you thought.

The number of 18- to 34-year-olds living with parents last year edged down from 2016, according to new data from CoStar Group, a commercial real estate information company in New York.

Last year, 31.5 percent of that age cohort were living with Mom and Dad, down slightly from more than 32 percent in 2016. While still higher than the long-term average of under 28 percent, it's a downward trend the firm expects to continue due to the strength of the job market and overall economy.

"There are more individuals in that age cohort who are employed," said Michael Cohen, director of
advisory services at CoStar. "We also should see some wage gains in that age range. ... Both of those things help."

Cohen said the tight labor market — overall unemployment is about 3.8 percent — has led to a higher rate of workforce participation among younger adults.

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https://www.cnbc.com/2018/06/20/millennials-moving-out-of-mom-and-dads-place-study-shows.html