Generations of Americans have followed the same formula: Excel in school, land a job with a steady paycheck, and move out of their parents’ places for good. But now the formula for success has changed, and more Gen Zers and millennials are living with their family to weather an increasingly unaffordable economy.
“Now since rates have been going up and affordability remains very stretched, we’re seeing [multigenerational living] increase,” Ivy Zelman, cofounder and executive vice president at housing research firm Zelman, a Walker & Dunlop Company, recently said during a roundtable discussion Fortune attended. “We assume that it’s going to stay fairly stable as we continue into the second half of the decade.”
