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Nearly half of young adults are living at home with their parents, spending more on luxury goods: report
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Young adults in the U.S. choosing to live with their parents in an effort to save on rent are facilitating a luxury goods boom, according to a new study.
Inflation concerns and record-high prices in rent, groceries, and other amenities have caused nearly half of all young adults (48%) between the ages of 18 and 29 to choose to live with their parents, a conglomerate of analysts found, citing data from the U.S. Census Bureau.
The data came from a Pew Research Center analysis, USA Today, the University of Minnesota, and a team of Morgan Stanley analysts led by Edouard Aubin.