Just as many local parents were celebrating their empty nests, their kids are boomeranging back home. It’s all part of the 2020 trend, the “Pandemic Nest,” stemming the ripple effect of COVID-19 which caused Junior to lose his job, or his college closed dorms and he has moved back home indefinitely.
Here are the stats:
- More than half of all young adults in the U.S. now live with their parents — that’s a number not seen since the Great Depression, according to Pew Research Center.
- A recent Zillow report of current population data reveals more than 32 million adults live with a parent or grandparent.
- Millions of young adults moved back home because more than 1,000 colleges and universities have shifted to online-only or primarily online models for the foreseeable future, says the Chronicle of Higher Education.