Nearly a decade has passes since the great recession and 38 percent of California’s 18 to 34-year-olds are still living with their parents according to Census data. This is approximately 3.6 million people.
So far this year, more than 130 bills have been introduced by State lawmakers trying to solve the housing affordability crisis in California. They have proposed 150 square foot apartments to a $3 billion affordable housing bond.
Will any new laws help? It has long been thought as the economy improves and more jobs are available, millennials and other young adults would form their own households. But California has its lowest unemployment rate since 2007 and 18 to 34 year-olds are staying put.
Since the turn of the millennium, the ranks of the stay-at-home have increased dramatically. Between 1980 and 2000, California saw about a 5 percentage point increase in its share of young people living at home. Between 2000 and 2015, that percentage grew by 14 points, outpacing the trend in the rest of the country.