As many as three out of 10 young adults are moving back in with their parents—resulting in the highest share of 18- to 34-year-olds living with multiple generations since the 1950s—after finding themselves unable to find lucrative employment in this dismal economy. They're dubbed "boomerang kids" because they depart for school or work only to return to the nest, but surprisingly, reports the Christian Science Monitor, 78% say they're happy living at home and 24% say it's positive for their relationship with their parents.
"The choice is to go out and be in debt or to pursue your dreams and save up money at home, in a safe, stable environment," says one 2009 grad who moved back home. The Pew Research Center report notes that 29% of 25- to 34-year-olds either moved back home recently or never moved away, while 53% of 18- to 24-year-olds live at home. Says an expert, “These statistics show that the recession has exacerbated a trend that was already under way since the 1980s … living at home longer and boomeranging back more frequently." (More boomerang kids stories.)
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