By Taxpayers Association of Oregon
A recent report shows that young Oregonians are taking longer to strike out on their own and are living at home with their parents at a higher rate than just a few years ago. The Oregon Office of Economic Analysis attributes the rise to a decrease in marriage rates and the shortage of roommate options.
Data shows that unlike after the great financial crisis of 2007 and the burst of the housing bubble when young adults living at home were mostly jobless, now most of them are employed. We think they are slower to set up their own households because of the high cost of living due to inflation.
Another contributing factor could be that there is more competition for rental housing due to sky high mortgage interest rates. Oregonians who would normally be first time home buyers are having to wait longer and save up more to afford the American dream of home ownership.
Whatever the reason, we know that it is taking longer for young Oregonians to leave the nest.