The homeownership rate among young adults ages 18-34 has fallen to a new low, 13.2 percent, as Millennials continue to live in their parents’ basements. In 2014, according to Census Bureau data compiled by trulia.com, 31.1 percent of this age group lived with their parents, a slight decline from 31.2 percent a year prior. As cnnmoney.com reports, Trulia Chief Economist Jed Kelko says those who do move out are not forming new households, they are moving in with someone else. The Millennials who rent or own their own home dropped from 36.9 percent one year ago to 36.6 percent this year. Instead of an estimated 1.2 million households that might have formed last year, the count was only 425,000. As MHProNews pointed out a year ago, Sept. 19, 2013, a survey in June of that year revealed that 94 percent of renters 18-34 still plan to own a home someday, although rental agents report occupants are older, more often single and staying longer than they have in past years. “Thus, [the] Census data show that the housing market is still struggling to recover,” wrote Kolko. ##

(Photo credit: David Sacks/Getty Images–children return home)