They are called “boomerang” kids – a generation of young adults moving home to live with their parents. The recent recession, heavy college debt, a dire job market all have contributed to this phenomenon. According to a recent New York Times article, one in five young adults in their 20s and early 30s lives with their parents, and 60 percent of all young people get financial help from their folks.
The economy is improving slowing, but whether that’s having an immediate impact on the boomerang generation is harder to gauge. Call us if you had moved back to live with your parents and are contemplating moving out. Or if you are a parent of a boomerang kid, call and let us know about how your experience has been.
Jeffrey Arnett, Research Professor, Department of Psychology, Clark University, where his main research focus is on"emerging adulthood," the age period from the late teens to the mid-twenties. He is also co-author of "Getting to 30: A Parent's Guide to the Twentysomething Years" with Elizabeth Fishel