38.3% of 18-to-34-year-olds live with parents or other family members, another reason Boomers are slow to retire. But most concerning is the 20% of adults 26 to 34, up from 17% in 2012, who live with family members, according to a census data analysis by Trulia. Millennials who graduated from high school and college at the peak of the Great Recession were hit the hardest. Not being able to gain immediate experience and the confidence of landing a job left many with a spotty resume and lower compensation level. Even those that have recovered from a bad start out of the gate live at home, burdened by student debt or to save money to purchase their own home. The talent pipeline into commercial real estate simply isn’t that large, and we have experienced seven years of constant CRE job growth, with relatively few new entrants. Our industry needs to attract, nurture and give this talent pool the second chance they deserve.
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