Living in many places around the United States isn't as cheap as many might think it is and for some who couldn't take the financial pressure of losing their job or the downturn that came with the recent COVID-19 situation, it meant moving in back with parents.
Millions of people have moved back in with their parents in the last couple of months.
Millions of people lost their jobs during those few months, but some reports suggest that as much as one-third of those jobs have now been recovered. This means more than 4 million jobs have been added back to the market in recent months.
Still, for many they don't know when they will return to work.
1 in 13 break lease in San Fran to leave early
For some small businesses they have been getting some relief after suffering the economic downturn with COVID-19 and for many it wasn't enough, a great deal of businesses had to close for good and there are still some that aren't out of the woods just yet.
With those millions of people moving back in with parents that is millions of dollars taken out from the renters market. Right now it is estimated that for those between 18-25 there has been about a 12 percent decline for individuals that age who are living on their own. Overall, it's estimated that some 32+ million adults might be currently living at home with parents in the United States.
Pics:
pixabay
Covid-19 has affected many businesses around the world. There are many who have lost their jobs too. Hopefully our world economy can recover soon!
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