According to Morgan Stanley, nearly half of 18- to 29-year-olds in the United States now live with their parents. At the height of the covid-19 pandemic in 2020, the number of people living with their parents jumped to 49.5%, according to census data. When young people free their

Nearly half of 18- to 29-year-olds in the United States now live with their parents, according to Morgan Stanley .

At the height of the covid-19 pandemic in 2020, the number of people living with their parents jumped to 49.5%, according to census data.

When young people free their budgets from the heavy burden of rent, they have more income to spend as they please.

A property management survey of 1,200 Americans aged 26 to 41 last December found that nearly half live in their parents' home. Among those who live with their parents, 55% have moved back home within the past year. The top reasons given by respondents were wanting to save money (51%) and being unable to pay rent (39%).

Although nearly 4 in 10 Millennials who live at home say their parents also charge them rent, it charges them less than $500 a month. This is very low compared to the national median monthly rent for . The national median monthly rent in October averaged $1,980.

html For many years, this kind of multi-generational living structure has been a Chinese tradition. Although China has gradually relaxed its one-child policy, the country has an entire generation of people known as "little emperors", most of whom have six elders - two parents and four grandparents - doting on one child. Traditionally speaking, in China, it is not uncommon to live with parents before marriage. Middle-class families usually use their family savings to buy a house for their children to live in, so that their children never have to worry about rent.

The main reason why young people in the United States and Western societies live with their parents is because of economic considerations, which is fundamentally different from China's traditional family concepts.