Study shows UK young adults living with parents at highest rate in 20 years

A study by the Institute for Fiscal Studies reveals that nearly 20% of UK adults aged 24-34 live with their parents, the highest rate in 20 years. This trend has increased by 450,000 since 2006, driven by high housing costs and low wages. The report highlights that young men are more likely to co-reside with parents, especially in high-cost areas like London. Financial benefits include significant savings on rent, with young adults in London saving about £1,000 monthly. The study also notes that mental health issues and changing social norms, such as declining marriage rates, contribute to this trend. Similar patterns are observed in the US, Australia, and Canada, with cultural factors influencing co-residence rates.