The US isn’t spared too

Devastating economic impact of the pandemic in the US is pushing increasing numbers of young people to move back in with their parents.

Recently released Pew Research Center analysis found that 52% of Americans aged between 18 – 29 now live with a parent, the highest share recorded since the Great Depression era.

That figure looked set to rise even further as an estimated 30 – 40 million people across the US were thought to be at risk of eviction.

Now that the Centers for Disease Control and Prevention has moved to provide tenants with protection until the end of this year, the likelihood of a catastrophic homelessness crisis has subsided, temporarily at least.

The share of young adults currently living with their parents is higher than any previous measurement recorded in surveys.

The highest historical value was previous recorded in the 1940 census towards the end of the end of the Great Depression when 48% of young adults lived with a parent.

Is the American Dream fading away? The economists are arguing American Dream is getting harder to achieve.

40 years ago, nearly all middle-class Americans earned more than their parents at 30.

Now they have just a 45% chance of doing so.