millennial, or Generation Y, is the term used to refer to a part of the population born between 1981 and 1995, whose main characteristics are empowerment and frustration, both derived from the great expectation that is placed on those born in this period, in view of the facilities provided by the internet and modernity in general.
However, a recent survey conducted by the PropertyManagement.com website found that millions of young Americans in this generation, who already lived without their parents, were forced to return to the family home, given the increasingly high values of rent us U.S.
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According to the survey, about one in four Millennials are living with their parents, which would be equivalent to approximately 18 million people between the ages of 26 and 41. More than half of those claimed to have returned to their parents' homes during 2022.
The list of reasons for these young people to return to their parents' homes, according to the survey, is:
- 50.9% – Returned to save money;
- 39.3% – Returned for not being able to afford the rent;
- 31.5% – Returned to take care of their parents;
- 29.6% – Returned because they liked living with their parents;
- 22.9% – Returned due to personal problems;
- 21.4% – Returned because they lost their job;
- 7.1% – Returned for fear of losing their job.
In relation to the superior groups, the increase in the price of rents was the determining reason for the change. Approximately 15% of millennial landlords said they were spending more than half of their salary on rent taxes.
One of the reasons that caused this increase in general costs was the Covid-19 pandemic, which affected and still affects the whole world, in terms of health or even economics. In addition, prices rose, and many people lost their jobs, affecting the real estate market.
Finally, in September 2020, a survey conducted by the Pew Research Center found that, for the first time since the Great Depression - which was a severe economic recession that hit of international capitalism, which occurred in the late 1920s, and also known as the Crisis of 1929 –, the majority of Americans between the ages of 18 and 29 were living in the country.
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