Nearly one-third, or 31%, of Gen Z are living with their parents because they can't afford to buy or rent their own space, according to a recent report.

These days, housing affordability is a struggle for nearly everyone.

But for young adults just starting out, soaring home prices and sky-high rents have become one of the greatest obstacles to making it on their own.

Nearly one-third, or 31%, of Generation Z adults live at home with parents because they can’t afford to buy or rent their own space, according to a recent report by Intuit Credit Karma that polled 1,249 people age 18 and older. Gen Z is generally defined as those born between 1996 and 2012, including a cohort of teens and tweens.

“The current housing market has many Americans making adjustments to their living situations, including relocating to less-expensive cities and even moving back in with their families,” said Courtney Alev, Intuit Credit Karma’s consumer financial advocate.

Overall, the number of households with two or more adult generations has been on the rise for years, according to a Pew Research Center report. Now, 25% of young adults live in a multigenerational household, up from just 9% five decades ago.

  • Flying Squid@lemmy.world
    111·
    1 year ago

    This is so incredibly selfish of me… she’s only 13 so hopefully this will be over anyway by the time she’s an adult… but I’d be happy if my daughter stayed with me until I died. Once I become an empty nester, I will be lost without her. But I also want her to strike out on her own and become independent, so it’s not like I’m going to force her to stay… I’m still a little envious of parents whose kids are still with them as adults, even if those parents may not like it.

    But, as I said, I also want her to be independent, so I hope this crisis is over in 5 years.

    • SendMePhotos@lemmy.world
      4·
      1 year ago

      It’s the same. My oldest is still at home and decided to stay until the car is paid off… And I’ve been totally OK with it.

      • Flying Squid@lemmy.world
        141·
        1 year ago

        It’s not about hobbies. I have plenty of stuff to do. It’s about losing something that’s almost a part of me, someone I’ve been putting so much of myself into for 13 years now. That’s just how parenting works.