Banks: You Can't Buy A House, But That's A Good Thing For Luxury Brands

Young adults are saving money on rent by living with their parents and then using those funds to buy luxury goods. Ana Kasparian discusses on The Young Turks. Watch TYT LIVE on weekdays 6-8 pm ET. http://youtube.com/theyoungturks/live

Read more HERE: https://finance.yahoo.com/news/nearly-half-young-adults-us-073044507.html

"Living at home is freeing up their budgets and leaving them with more disposable income for spending.

A record number of young adults in the US are currently living at home, and all that saved rent is sparking a luxury boom.

Recent data from the US Census Bureau shows that nearly half of young Americans between the ages of 18 and 29 are living with their parents today. That's a historical high not seen since the Great Depression era, Morgan Stanley analysts wrote in a Friday note.

The analysts estimated that around 48% of young adults are living with parents in 2022, similar to levels seen in the 1940s."

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