Recession culls 1.2 million U.S. households
MarketWatch
By Amy Hoak
...The number of American households dropped by an estimated 1.2 million between 2005 and 2008, even though the population increased by 3.4 million in 80 of the largest metropolitan areas during that time, according to a new study by a professor at the University of Southern California.
More young people are living with their parents instead of moving out, postponing the creation of their own households. Meanwhile, more families are combining households for economic reasons, including the loss of a home due to foreclosure, according to Gary Painter, associate professor in the School of Policy, Planning and Development at USC.
"With such a significant drop in households nationwide, it is clear the most recent recession impacted individuals' decisions to move out on their own and caused many Americans to join already formed households," Painter said in a news release Wednesday...