Boomerang Generation

Economy
3:49 pm
Thu November 1, 2012

'Boomerang Kids' Circle Back to Where They Started

Multi-generational families are sharing housing more often, according to a new report.
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There used to be a stigma attached to living at home into one’s twenties and thirties – but not so much these days.

Blame it on rising housing prices, or dwindling employment opportunities for grads – but nowadays, young adults between the ages of 25 to 34 are feeling more comfortable about moving back in with their parents.

According to a recent Pew Research Center report on the so-called “boomerang generation,” three out of 10 young adults have moved back home in recent years, thanks to a weak economy. 

The good news concerning multi-generational households is that it looks like all parties are benefiting from the trend. Of the 2,048 adults surveyed nationwide, 48 percent have reported paying rent to their parents and 89 percent say they help with household expenses, like utilities.

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