Basement Dwelling Is A Cool Thing Until It Dampen The Economy and Affected The Real Estate Sector

There is a home that can be had in the basement where it is normally ignored and it may yet be the  coolest thing, if you'd ask young professionals who prefer more quiet and privacy and to keep staying in the nest.

Forbes reports that in the U.S., 30 percent or more young adults aged 25 to 34 continue to live with their parents despite the visible improvement in the job market. It may sound a lot in number but compared to other parts of the world, such number pales in comparison.

According to Goldman Sachs economists, Hui Shan and Daan Struyven, they found out that millennials were less inclined to live at home in Finland, France, the United Kingdom and the Netherlands-and it is limited to this  countries.

It is not suprising that at less than 20 percent, Finland had the smallest share of young adults at home while Italy has the highest number which is at 55 percent.

"What explains the cross-country variation? Economic and labor market conditions appear to account for a good portion," Shan and Struyven wrote. It seems that when there are jobs to be had, most young adults leave home and find or create their own.

It may be different in the U.S. because it is becoming more socially acceptable to live at home, the tendency is just to stay-mainly because basement dwellers used to be really really cool?

It has been recorded that first time homebuyers are in the decline and the longer the young adults stay at home, the harder for the economy because it means less demand for new houses, slower growth and even fewer jobs.

The recession has not helped the construction industry either because it is yet to recover. U.S. builders are on target on 490,000 homes in 2015 but it is still well below to fulfill the demand.

Perhaps when the basement dwellers came out of their comfort zone, this scenario will change.