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Nearly one-third (32%) of millennials and Gen Zers who moved back home with their parents during the pandemic, and most still live there, according to a new survey from LendingTree.
Slightly more than half (51%) of those who moved home said it was based on financial necessity. Of those who returned home, 39% said they”™ve been able to pay down debt and 31% are focusing on saving for a down payment.
As for the parents, LendingTree found that 85% would let their children move back in as adults or have previously done so, and 73% wouldn”™t charge them rent. However, more than half said their kids would need to get a job, help pay for groceries and other household bills and assist with chores like cooking and cleaning.
