The virus-induced recession has abruptly upended younger millennials (ages 24 to 29) from living on their own, have now moved back home, according to a new survey.
The new survey, commissioned by TD Ameritrade (seen by CNBC), found that out of the 2,000 young millennials surveyed, about 39% are in the process or have already moved back home because of the crushing economic downturn.
About 15% of the respondents said they’re on financial life-support, with their parents helping to subsidize rent, while another 15% said their parents are covering all rental expenses.
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