Between 2005 and 2013 increases in student loan debt and delinquency and declines in credit card and auto debt account for 30 percent of the increase in flows into co-residence with parents and 26 percent of the increase in
median time young people spent in co-residence.
Not exact matches
«Although earning slightly more than their parents did in the 1980s, millennials need to pay more to get their foot in the housing door,» he said, adding that the average house price in 2011 was ten
times the
median salary of a
young family.
The Windy City's first -
time buyers can also expect to spend a mere 16.2 % of monthly income on mortgage bills, while
young workers»
median household incomes have risen a solid 14.3 % over the past five years.
Research by financial experts also say that large student loan payments can significantly hurt a
young adult's ability to begin to accumulate wealth: «The
median 2009 net worth for a household without outstanding student debt was $ 117,700, nearly three
times the $ 42,800 worth in a household with outstanding student debt.»
Among
young adults who moved back in with their parents (implying that they had moved out at least once), the
median estimated length of
time spent living with their parents was three years, according to research based on credit report data.