Multi-generational living has been going on for a long time.
Over the past five decades, the number of households with two or more adult generations has increased. 18% of the US population is now represented by such households.
Families are doubling up because of ballooning student debt and housing costs, according to a new study. The decision process involves caregiving as well.
Multigenerational living has grown at the fastest rate among 25 to 34 year olds.
The share ofboomerang kids living with their parents went to a historic high in 2020.
Richard Fry said that the levels are still above where they were in 2019.
In the past five decades, the number of young adults living in multigenerational households has increased.
Most of the time, 25 to 34 year olds are living in the home of their parents. A smaller share lives in their own home with an older relative.
Men and people without a college degree are more likely to live with their parents.
It is a private social safety net for them.
Young adults who don't have a bachelor's degree earn less money than those who did.
Older parents are more likely to pay for most of the expenses when there are more than one generation living in the same home. 22% of the total household income is contributed by the 25- to-34-year-old in a multitergenerational household.
It can be difficult for parents to support grown children at a time when their own financial security is at risk.
In an economy that has produced the highest inflation rate since the early 1980s, the cost of having young adults living at home has gone up a lot.
Americans living in multigenerational households are less likely to be financially vulnerable, according to a new study.
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