Nearly 40% of young adults are living with their parents

Posted at 10:48 AM, Dec 22, 2016
and last updated 2016-12-22 10:48:28-05

More young adults than ever are returning home to live with their parents.

A report from the real estate company Trulia says that nearly 40 percent of young adults between 18 and 24 are living with their parents, siblings or other family members, the Wall Street Journal reports.

That percentage has been on the rise since 2005. Before that, only about one in every three young adults were returning home to live with their parents. And the growth continues despite a recovering economy and recent job growth. In the past, as the economy improved, the number of young adults living with their parents as decreased.

As a result of the increase, demand for housing has also dropped. According to Time, higher rent prices and tough mortgage lending standards are to blame, which makes it more difficult for young adults to make it on their own.