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For the last several decades, parents have been welcoming their adult children home after moving out for college. It’s become an accepted way for young adults to save up and start their lives off with a little less financial burden, and we’re currently seeing that trend rise as more young adults join the boomerang generation.
The boomerang generation is a generation of young adults who return to live with their parents. This group has continued to grow over the last decade, but the trend isn’t totally unique to the current generation of recent grads. In 1985, 54 percent of 18–24-year-olds and 11 percent of 25–34-year-olds lived with their parents. While the rate of 18–24-year-olds living with their parents has stayed relatively consistent, the U.S. has seen a steady rise in 25–34-year-olds living with their parents, reaching 17 percent in 2019.
The rise of the boomerang generation really began following the … Read the rest