Homeownership in America stands at its lowest level in at least 20 years. The decline has been more pronounced among households headed by young adults, blacks and those in the lower income tier.
For the first time since 1880, Americans ages 18 to 34 are more likely to be living with their parent(s) than in a household shared with a spouse or partner.
Despite improvements in the labor market, Millennials today are less likely to be living independently of their families and establishing their own households than they were in the depths of the Great Recession.
In 2012, a record 69% of the nation's new college graduates had taken out student loans to finance their education. Graduates from more affluent families are much more likely to borrow today than 20 years ago.
The number of Americans living in multi-generational households, which spiked during the Great Recession, has risen to a record 57 million in 2012, including about one-in-four young adults ages 25-34.
Student debt burdens are weighing on the economic fortunes of today’s young adults. Among the college-educated, those with outstanding student debt are lagging far behind those who are debt free in terms of household wealth.
In 2012, 36% of the nation’s young adults ages 18 to 31—the so-called Millennial generation—were living in their parents’ home, the highest share in at least four decades. The number of young adults doing so has risen by 3 million since the start of the start of the recession in 2007, an increase driven by a combination of economic, educational and cultural factors.
During the first two years of the nation’s economic recovery, the mean net worth of households in the upper 7% of the wealth distribution rose by an estimated 28%, while the mean net worth of households in the lower 93% dropped by 4%, according to a Pew Research Center analysis of newly released Census Bureau […]
After running up record debt-to-income ratios during the bubble economy of the 2000s, young adults shed substantially more debt than older adults did during the Great Recession and its immediate aftermath—mainly by virtue of owning fewer houses and cars, according to a new Pew Research Center analysis of Federal Reserve Board and other government data. […]
The number of Americans who recently wed has been declining for years, and 2011 was no exception, according to estimates from the American Community Survey. An estimated 4.2 million Americans were newlyweds in 2011, about the same as in 2010 and sharply lower than in 2008.
