More college grads return to the nest
A recent article in The Christian Science Monitor gives a shout-out to Brown University, with a look at college graduates who move back in with mom and dad. The phenomenon, known as “boomerang kids,” is increasingly common amid the slow job market and the ever-increasing burden of student loans.
According to the Pew Research Center, as many as three in ten young adults now return home to live with their parents. The trend has been on the rise since the 1980’s, but Pew says it has accelerated more recently.
With more families living in intergenerational households, Pew sees both positive and negative consequences. Some families report better parent-child relationships, and it certainly eases “empty nest syndrome.”
Young people who live at home are also less likely to live in poverty and freer to pursue their personal interests through internships and part-time jobs. Many say they are satisfied with their living arrangements.
Still, Pew researchers say the data suggest that young people are putting off important personal and economic milestones.
Says the Pew Center’s Kim Parker:
The recession has really accelerated trends of prolonging adolescence and shifting adulthood later. If you can’t find a job, it’s difficult to establish yourself.