Economy Unkind to Millennials

The Los Angeles Times business section reports many millennials are living with their parents or grandparents. Additionally, record numbers of Americans live in multi-generational homes, defined as two or more generations of adults living in one dwelling. They write:

A record 57 million Americans, or 18.1% of the population, lived in multigenerational arrangements in 2012, according to the Pew Research Center. That's more than double the 28 million people who lived in such households in 1980, the center said.

About 23.6% of people age 25 to 34 live with their parents, grandparents or both, according to Pew. That’s up from 18.7% in 2007, just prior to the global financial crisis, and from 11% in 1980.

For the first time, a larger share of young people live in multigenerational arrangements than of Americans 85 and older.

That last statistic tells you which generations have the money and which don't - the young are hurting.