The recession and recovery effected young adults and their headship rate more than that of older adults. Many young people struggled in the recession and as a result moved in with their parents.
As our economy continues to improve and add jobs, younger Americans—millennials—are slowly starting to move out of their parents' homes where a record number of them have been living for the past few years. The global financial crisis that resulted in the 2007–2009 recession forced many unemployed or financially struggling millennials (those currently aged 18 to 34) to move back home or continue to stay living with their parents.
This trend has been one of the forces holding back the US housing market.
Establishing an independent household has long been…