At some point in your life, you have likely heard the phrase, “You can’t go home again.” However, as popular as the saying may be, it’s entirely wrong: Millions of young adults are moving back home to live with their parents, sometimes with children of their own.
According to a 2011 Pew Research Center Report, the country is now experiencing “the largest increase in the number of Americans living in multi-generational households in modern history.” More than 10% of all households (11.9 million) include members of multiple generations, the majority of which were an adult child living with a parent. The number of children returning home has become so commonplace that they have earned the appellations “baby gloomers” and “boomerangs.” One of every four young adults between the ages of 18 and 24 indicated that they had returned to live in their parents’ house after being independent; one in five of those between the ages of 25 and 34 reported the same.
When a child returns home as an adult, it is rarely voluntary; rather, it is the consequence of too little or no income, high debt, and/or poor income prospects. Young people, even those with college degrees, have borne the brunt of the Great Recession’s impact on the job market.