More than one in five adults between ages 25 and 34 live with their parents or in other “multi-generational” living arrangements, the highest level since the 1950s, according to the Pew Research Center.
Analysts estimate that there are more than 2 million fewer occupied homes than there would have been had Americans continued moving into new homes and apartments at the rate they did before the recession. [Emph. added]
That’s some seriously pent-up demand for housing. Meanwhile, the homeownership rate has fallen to its lowest level in 15 years. Bullish! The strength of the housing market will be one of the big surprises of 2012. . . .