SAN DIEGO (KGTV) -- A new study conducted by Zillow shows that more college graduates in San Diego are living with their parents.
The share of graduates living with their parents has grown from 14 percent in 2005 to 25 percent in 2016.
Similarly, the study found that less graduates are living with a romantic partner. In 2005, 38 percent of college graduates were living with a romantic partner compared to 32 percent in 2016.
And it’s not just in San Diego. Nationally, 28 percent of college graduated lived with their parents in 2016 compared to just 19 percent in 2005.
“In the mid-2000s, lending standards and an abundant supply of homes made it easier for recent grads to move out and form their own households instead of living with their parents,” said Zillow senior economist Aaron Terrazas. “Those market conditions have changed drastically over the past decade as we went through the housing bust. Adding to that, as many millennials who recently graduated into the Great Recession can attest, underemployment or more precarious jobs make it much harder to save up enough to move out. When rents keep climbing and competition is fierce for the most affordable homes, living with mom and dad can be a good option to build up some savings.”
Zillow says when the housing bubble was at its height it was easier to get a loan and the building boom meant there were more homes available.
Tighter lending standards and less housing inventory today make it more difficult to break into the home-buying market.
