[Ed. – If Obama had a son, he’d be living in the White House basement.]
Increasing numbers of young Americans are heading to college, where they’re racking up debt to pay for rapidly increasing tuition costs.
Those graduating are being confronted by a challenging job market, which eventually leads many to just drop out of the labor force altogether.
This in turn has led to an increasing delinquency rate for student-loan borrowers.
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So it’s no surprise that young people are increasingly opting, perhaps out of necessity, to live at home with their parents.
In his latest monthly chart book, Deutsche Bank’s Torsten Slok tracks the rise of 18- to 34-years-olds currently in this position.
And there are a lot.
