Over half of young adults, or 26.6 million of those ages 18 to 29, live at home with their parents as of July, according to Pew Research Center. The number of younger Americans living at home has increased by about 2.6 million since February, prior to the outbreak of the coronavirus pandemic.
In fact, the current level of young adults living at home is the highest ever recorded, Pew reports. And while moving back home can help save money, it can also be a challenge for some families to handle long-term.
Yelp wants to help with that. On Tuesday, the review site launched its "Re-Empty the Nest" contest, which promises to award 10 people with $2,000 to cover the costs associated with moving out of the house.
To enter, adult children or their parents need to have or register for a Yelp account using their real first name and last initial as their username and include a photo of themselves as their profile picture. Then they'll need to use the free "Request a Quote" feature on Yelp's website or mobile app to request a quote from one of the following types of services: moving, home cleaning, plumbing, landscaping or handyman.
Once adult children or their parent submit a quote request, they'll need to fill out an entry form on the contest homepage that includes why they need Yelp's help, along with a snapshot of their submitted quote request.
Participants must reside in the U.S. (excluding residents of Alaska, Hawaii and United States territories) and need to be 18 years or older at the time of entry. Additionally, entries need to be completed by an adult currently living with their parents and looking to move, or by a parent with an adult child who wants move out of the family home. The deadline to submit entries is Oct. 30, 2020.
Yelp is planning to give away 10 gift cards worth $2,000, according to the official rules. The gift card can be used at the winners' discretion to help ease the financial burden of moving, including to help pay for moving expenses or even hire a cleaning service.
Even prior to the contest, Yelp reports that interest in quotes for moving, packing services and even mortgage lenders is on the rise in cities compared to last year. The number of quotes requested for movers, for example, is up 34% in San Francisco and 22% in New York, Yelp reports.
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October 20, 2020 at 06:00PM
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Yelp wants to give adult children $2,000 to help move out of their parents' houses - CNBC
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