Job Market, Student Debt Keep Millennials With Parents

Rob Williams:

For the millions of parents who wonder when their adult kids will move out of the basement, Goldman Sachs Group Inc. has some insights about what’s holding back the millennial generation.

The lackluster jobs market, housing affordability, student debt and delayed marriage may keep a lid on household formation for years to come, according to the New York-based bank’s analysis.

“The share of young people living with their parents has increased relative to pre-recession rates for all labor force status groups, not just the unemployed and underemployed,” said Jan Hatzius, head economist at Goldman. “The share of 18- to 34-year-olds living at home might not fully return to pre-recession rates.”