Gen Zers Still Living At Home Causing A Luxury Explosion. Wait. What? If all these adults are living with their parents because they can’t afford to move out on their own, how it that luxury? Well. It’s not. But the Gen Z’ers are saving money, right? Nearly 50% of 18- to 29-year-old are living with mom and dad – the highest level since the Great Depression.
And it seems all the money they are saving on rent has caused a “luxury boom,” according to Morgan Stanley. Basically, living at home has allowed young adults to keep more of their money. You would think they would be saving the extra cash, but nooooo. Most say they are using this disposal income to buy luxury items. Maybe this Christmas you’ll get something extra nice from the Gen Zer in your life having a luxury explosion? Or, not. They really need that Playstation Switch with the sports package.