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Young people return to their parents’ homes in the US due to COVID-19


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This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.


This story originally appeared on Alto Nivel

By Antonio Sandoval

For the first time in nine decades , young adults have returned to parental homes at a rate not seen since the Great Depression era of the 1930s , according to an analysis by the Pew Research Center with data from the United States Census Bureau.

The obvious cause was the loss of job or decrease in income that the pandemic brought with it. According to the source, at the end of July the total number of young adults who lived with one of their parents or with both grew to 26.6 million , which meant an increase of 2.6 million compared to February , just before the devastating impact of the pandemic in the world’s largest economy.

This measurement includes only young people between 18 and 29 years of age and, according to the figures, the phenomenon was highly concentrated in the segment of young people between 18 and 24 years of age, the age of greatest economic vulnerability in adulthood. In percentage terms, it means that 52 percent of young people in the analyzed age range , 18 to 29 years old, live with their parents, the highest rate since the Great Depression era.

In fact, the Pew Research Center indicates that this rate of 52 percent is already even higher than the 48 percent reported in 1940 during the end of the Great Depression and the entry of the United States into World War II, with no accurate figures. in the worst part of the economic crash of the 1930s, so the most recent measurement is in fact the largest ever observed in

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Investors Pile Into U.K. Rental Homes as Covid Hits Young Buyers

(Bloomberg) — Investors are pouring record amounts of cash into new U.K. rental homes, betting that demand will remain high as the pandemic batters the economy and puts ownership out of reach for more first-time buyers.

Investment in purpose-built rental apartments and houses will hit 4 billion pounds ($5.2 billion) this year, up from 2.8 billion pounds in 2019, according to a report from broker Knight Frank and residential property review site HomeViews. The market has so far proven resilient to the Covid-19 downturn, with rent collection averaging 95% in the period from March through August, according to the report.



chart: Generation Rent


© Bloomberg
Generation Rent

Demand for rental housing in the U.K. has been growing for years, with one in five households renting privately, up from one in 10 in 2001, the report said, citing the English Housing Survey. The coronavirus has accelerated this trend, with soaring house prices, tighter lending conditions and economic uncertainty forcing more first-time buyers to postpone their ownership plans.

“I think the outcome of the Covid situation is that we will have more people renting for longer, simply as plans for home ownership get delayed further,” James Mannix, head of residential development and investment at Knight Frank, said by phone.

For more articles like this, please visit us at bloomberg.com

©2020 Bloomberg L.P.

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The Growing Importance Of The Home For Young Consumers

A new report by youth marketing experts YPulse titled “No Place Like Home” provides significant new insights on how the Covid pandemic has changed how Gen Z and Millennials view the homes. The following statement summarizes key findings: “As young people look to their spaces as mental health retreats, at-home items and services that comfort, declutter, or foster a feeling of escape that from the outside world will resonate.”  The opportunities for marketers are clear and will be elaborated on below.

YPulse previously observed that millennials have homebody tendencies, with a majority preferring to go to a  café or watch Netfix at home as opposed to going to a party on a Saturday night. A recent survey confirms that this sentiment was present even prior to the pandemic, with, “…67% of 19-37 year olds telling YPulse in January this year that they would rather stay in on the weekends than go out.”

Both millennials and GenZ (widely regarded as the most stressed out generation in history) are seeing the home as a refuge from the outside world, as many have felt stressed by issues such as climate change, the 2008 recession, student debt, and now Covid-19. 

YPulse and it’s Vice President for Content, MaryLeigh Bliss predict three major trends pertaining to young people and attitudes toward home going forward that are worth looking at and considering into how they affect marketers. They are:

1)     Shifts in How Young People Use Their Homes Will Create Opportunity For Marketers

With a strong majority of Millennials and GenZ having the goal of owning a home, how they use that home will be of interest to markets in many product categories. YPulse points out several Covid-related shifts

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