During the Great Recession, household formation in the U.S. was well below historic levels, dimming the demand for new homes. Although many sectors of the economy have experienced sustained recoveries, household growth still lags.
"While other measures of the housing recovery are chugging along – like foreclosures, prices, sales, and construction – household formation is lagging," reports Jed Kolko. "Thanks to years of below-normal household formation, the number of 'missing households' has accumulated."
"The majority of the missing households are young people who aren’t heading up their own households," he explains. "Instead, they’re living with their parents: the share of 18-34 year-olds living with their parents rose from around 27% before the crash to above 31%, where it remains in 2013."
"What will it take for household formation to bounce back? Jobs will help, but the job recovery for young people still has a long way to go. While more young adults are working now than a year ago, their employment rate is still much closer to the worst of the recession than to pre-recession levels."
"It could still take years before young people have built up the savings and economic security to leave the nest," Kolko concludes.
FULL STORY: Sorry, Mom and Dad: The Kids Aren’t Moving Out Yet

Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

Chicago’s Ghost Rails
Just beneath the surface of the modern city lie the remnants of its expansive early 20th-century streetcar system.

Amtrak Cutting Jobs, Funding to High-Speed Rail
The agency plans to cut 10 percent of its workforce and has confirmed it will not fund new high-speed rail projects.

Ohio Forces Data Centers to Prepay for Power
Utilities are calling on states to hold data center operators responsible for new energy demands to prevent leaving consumers on the hook for their bills.

MARTA CEO Steps Down Amid Citizenship Concerns
MARTA’s board announced Thursday that its chief, who is from Canada, is resigning due to questions about his immigration status.

Silicon Valley ‘Bike Superhighway’ Awarded $14M State Grant
A Caltrans grant brings the 10-mile Central Bikeway project connecting Santa Clara and East San Jose closer to fruition.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Caltrans
City of Fort Worth
Mpact (founded as Rail~Volution)
City of Camden Redevelopment Agency
City of Astoria
City of Portland
City of Laramie