A record 25.2 million young American adults (about 33%) under 35 have returned to the family nest as the cost of living has become prohibitive.

There is a stereotype of Americans living at home with their parents as freeloaders, living in the basement and spending their ample free time playing video games. That is far from the reality. Around 70% of young adults (ages 25 to 34) living at home are actively employed and use their income to contribute to the household expenses, like groceries and utilities.

One of the main reasons for Americans opting to live with their parents is the high price of home ownership. The median sales price for a single-family home in the US is approximately $434,300. Compare that to 1975 when the average price was under $40,000. That demonstrates how much the dollar has shrunk in terms of purchasing power.

According to a report by Harvard University Joint Center for Housing Study (JCHS), existing home prices have risen 54% since 2020 and are about five times the median income – a level well above the ratio of three times that prevailed in the 1990s.

At the same time, mortgage rates are over 6%, which makes the payment on a........

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