More than half of Gen Z & younger Millennials are living with their Gen X & Baby Boomer parents - well past legal drinking age. While it may not be “terrible,” the trend will impact markets as well as the lives of both young adults and their parents' retirement plans.
Households are engines of consumption and drive markets. New households, in part, drive economic growth. Fewer new households suggest less demand for almost everything – from services to the stuff that fills rooms, closets, and cabinets, and especially dampens the demand for the apartments, condos, or houses that are home to those empty spaces.
Most parents with children 18 to 29-years old are well into their 50s if not knocking on the door of retirement age. Even moderate additional, and unanticipated expenses, to support an adult child drain resources that might ensure a financially secure retirement – especially for the countless Gen X’ers and Boomers that are uncertain if they can retire at all.
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