Household Formation Decline Lowers Demand for Household Goods

The Washington Post reports the number of adults sharing households spiked 11.4 percent from 2007 to 2010, representing an increase from 17 percent to 18.7 percent of all U.S. households, reversing the empty- nester trend. According to the Census Bureau, during that period the number of young adults living in their parents’ homes rose 1.2 million to 15.8 million, with two-thirds of that increase coming from those aged 25-34. MHProNews has learned from UPI, Rose Kreider, a family demographer with the Fertility and Family Statistics Branch, and author of the Current Population Survey, says, “The increase in 25-to 34-year-olds living in their parents’ home began before the recent recession, and has continued beyond it.” With two million fewer occupied homes had the rate of household formation continued as it had before the recession, the slower pace has resulted in less demand for furnishings and appliances, further holding back the economy.

(Photo credit: HuffingtonPost/alamy

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