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DS News Webcast: Wednesday 8/6/2014

Parents of millennials are more likely than other generations to have their adult children still living at home, but according to a study by Fannie Mae, more than half of them don't mind their children staying in the nest. For the study, Fannie Mae segmented the millennial demographic into a younger group aged 18 to 22 and an older group aged 23 to 34, and then asked parents why their children were still living at home. The primary reason cited by 24 percent of parents for older millennials was "they do not have enough income to live in their own home," a nod to the problems that this new group of adults face in relation to employment and low pay.

Other answers included the fact that the children were "not yet married" or that the parents surveyed preferred to share the same house with their children, among other reasons. There were noticeable differences between the groups when parents were asked how long they expected their children to stay in their homes. Fifty-two percent of parents for the older group believed their children would move out within two years compared to 38 percent of younger-group parents, but almost a fifth of all parents for each age group thought their children would stay at home for five years or more.

The Bureau of Economic Research at the University of Florida announced that the consumer sentiment index for the state’s residents rose another two points to 84, hitting a post-recession high. Consumers’ expectations of U.S. economic conditions over the next year and the next five years rose. Perceptions as to whether it is a good time to buy big-ticket items maintained a post-recession high of 94, and employment improved slightly. According to the director of the survey, Chris McCarty, the “expectation is that consumer sentiment [in Florida] will continue to rise slightly in the short run.”

 

By Cody Galuardi

 

About Author: Jordan Funderburk

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