DENVER BUSINESS JOURNAL — College graduates are more likely to be living with their parents than they were before the housing bubble burst.
An analysis of Census data by Zillow finds that, nationally, 28 percent of recent college graduates in their 20s lived with their parents in 2016, compared to 19 percent in 2005.
This is happening in Denver as well, but not nearly to the extent of other places like Las Vegas and Riverside, Calif., which top the list. Those cities also experienced the most dramatic housing booms and busts, according to Zillow.
"In the mid-2000s, lending standards and an abundant supply of homes made it easier for recent grads to move out and form their own households instead of living with their parents," said Zillow Senior Economist Aaron Terrazas. "Those market conditions have changed drastically over the past decade as we went through the housing bust. Adding to that, as many millennials who recently graduated into the Great Recession can attest, underemployment or more precarious jobs make it much harder to save up enough to move out. When rents keep climbing and competition is fierce for the most affordable homes, living with mom and dad can be a good option to build up some savings."
Read more at the Denver Business Journal: https://bit.ly/2rIEYda
